Wednesday, March 02, 2011

Fkli wrap....fbm strong despite weak externals

-early selloff on weak DJ overnight negates bulls strong effort on Tues. No cut loss. But at the same time, mkt survives a breakdw thanks to Tues momentum. Buying in GLCs keep supports intact. Externals weak, HS -350. Europe off to a -1% in Wed trading.

-technically, a neutral day. Upward bias as support remains, 1480. Mkt is coming to a corner for a good breakout opportunity of 1480-1500 band. Extension of recent dwtrend or consolidation 1500-1530 range this week….which one !

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