Wednesday, October 27, 2010

Fkli wrap...neither convicing nor big setback


Could have been above 1500 if not for HS sharp losses on China moves to limit capital flow. Fbm.fkli, already off high in AM session, stays defensive again in PM as SH tracks HS losses and Europe -1% losses. But no real damage. fkli in-and-out of 1500.

Trading range is raised to 1490-1510 for the rest of the week. Fbm.fkli looking good to reach record high mark next week if can sustain above 1500 by end of this week. Weekend and mth –end profit take interest are likely to limit fkli gains in the next to days.

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