Wednesday, June 02, 2010

Fkli wrap....plenty of tug of war at 1280.









Despite weak external condition, regional mostly lower and Europe -1%, fkli very resilient today. Bulls made multiple attempt to break 80 resistance but fbm on bears side for most of the day especially after a 5p dip in the preclosing stage. Fbm basically sitting on its hands today.

Technically, not so good for bears if mkt stays above 70 as this would mean it would break free from the dwtrend line resistance and probably heads for consolidations phase from a dwtrend mode.




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