Wednesday, August 17, 2011

Fcpo wrap..upside remains intact.. 3000 survives.


Strong interest after a breakout above 3020 in PM, 4pm. . Tug of war begins as bulls try to clear 3050 hurdle, taking advantage of strong support at 3000 today. However, selling pressure seen near Tue’s high levels.

Neutral day but still a good news for bulls as 3000 remains a support despite Tue’s negative performance. Waiting for a breakout from 3000-3080 sideways range, an indication for the next short term moves.

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