Thursday, February 17, 2011

Fkli wrap....at shrot term resistance ...next move ?

-while external a mixed bag, fbm steady above 1500 on lfollow through buying. Both upside limited by tech resistance.

-fkli see selling after fbm fails to close above 1510, taking discount stance after hitting 1510 in early trades

-rebound reaches the first short term resistance lvl, 7SMA. Expect a tough fight here upwards but expect at least one attempt at 1520, if fbm > 1505 . Can mkts finish with +ve tech outlook this week, > 1510 ? or profit take pressure ?

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