Tuesday, October 19, 2010

Morning start...fkli firm 1480-82 fcpo strong 2900-10

DJ +80, no storm like Asian yesterday, financials reverse losses on strong earnings from JP Morgan , Citi. Europe +0.5%. But, safe haven bond also up.

8.15 : Dj futs -20. Regional +ve but looks slow. NK and KOS +0.1%. Commodity strong. CO +2.5%. GOLD +1%.

fkli : -ve expectations near -80 in late Asian tradin hours but DJ +80. fkli is seen at 1480 first, targeting 80-86 range if fbm > 80. While dwside risk remains, fbm is seen steady within 80-90 range.

fcpo : SO +1%. Fcpo seen returning back above 2900 but sentiment is likely to be cautious and unlikely to break 2930 resistance today. Above 2880 will avoid major selling interest.

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