Morning start ...fkli firm 27-30 fcpo strong 2320-40

dj +60 , finished the week on positive note ahead of 2Q reporting season. Strong 2Q earnings could push mkt higher, reinfocing a slower growth theory rather than double-dip fears that had been factored in the past weeks.

8.15 : DJ futs -20. Regional flat, mixed, within +/- 0.5%. Commodity higher trend. CO and GOLD +1%.

fkli : +ve tone but 25-30 first till fbm breaks above 27. Intra-day positive if above 25, otherwise dwside risk of 20. Upside target is 32.5 , followed by 1340, if fbm can breaks above 1330, which is quite unlikely.

fcpo : SO strong gain, +2%, crop uncertainties, as the critical growing period for U.S. soybeans approaches in August and strong China demand. Fcpo is seen starting around resistance lvl and likely to stay intra-day +ve, above 2320 in early trading. Upside risk is 2350.