A day after speeding ahead of SO, fcpo see profit take today at critical resistance lvl near 3000, keeping in line with SO gains so far this week – around +1%. Yesterday, fcpo rose sharply on tech buy on the back of positive m-t-m export estimates., +5% in the first 25 days this mth.After a strong opening and making one attempt at 3020, fcpo stays in defensive for most of the day. Near 3000 in AM and mostly 2990-2998 trading range in PM.
Toppish tone if under 3000, pointing to some pullback first – towards 7 SMA – before comfortably engaging 3000-3100 range. Immediate support is seen at 2970.
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