Monday, April 04, 2011

Morning start...fkli frim 1547-50 fcpo firm 3360-70

DJ +50, Europe near +2% Fri, bullish tone heading into April 8.30 DJ futs -2. Regional higher,. NK+1% KOS flat. Commodity +ve tone, near +1% FKLI attempts to regain 50 mark and to catch with fbm if fbm can steady above 1550 in early trading. Bullish tone if above 46, reinforcing a higher trading band of 40-70 this week. Fbm seen at the lower band of 50-60. FCPO SO +0.4%. No immediate danger of falling under 3300 but not enough either to push fcpo out of bears grip. Danger for bulls if mkt dips under 3340 today as it will confirm Fri's toppish outlook as set a move back towards recent support lvl again this week.

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