Wednesday, January 05, 2011

Fkli wrap.. time for profit take .. 1600 next round

-Strong run but profit take set-in in late trading as DJ futs gets weaker over time, from -20 to -50. Europe off to a soft start as commodity faces selling, especially crude oil.

-regional mixed, a bit follow through buying but cautious amid selloff in some commodity, GOLD, CO

-After a strong start in AM on follow through, CIMB shoot fbm above 1570 in the first 15 mins of PM trading. Then, consolidation all the way till closing.

-Fkli fails to make it to 1570 despite knee jerk reaction, amid profit take activities.

-1570 looks toppish this week, pullback towards 1550 before making the next move towards 1600. Below 1570 is trading sell. Breakout buy > 1570 this week seems "too risky"

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