Tuesday, July 05, 2011

Morning start...fkli firm 1583-85 fcpo firm 3060-70

DJ holiday on Mon. EU mixed, flat. Commodity firmer tone.

8.30 : Dfuts +20.regional flat to marginally+ve, +0.2%.

fkli likely defensive at 80 for 80-90 play. But under 1585 is cautious tone with dwside risk only if fbm < 80.

fcpo SO +0.3% another relief for bulls as fcpo will avoid an initial selling pressure and therefore gives bulls a chance to penetrate 7SMA resistance. 40-80 is neutral today. Bears rule if < 40.

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