Tuesday, July 05, 2011

Fkli wrap.....1600 takes backseat, test support first ?



Quiet day all around - regional and commodity - amid a lack of US cues

Fbm not taking any chance, prefers to wait for US to justify a move towards 1600, meantime steady above 7SMA support, near 1580. US reopens Tues after a 5-day super +650p winning streak last week

Fkli drifts lower as 1600 seems off-limit today amid fbm cautious tone but also stays in tech +ve zone. Above 80 is still a bull mkt

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