Tuesday, August 16, 2011

Fkli wrap.. bad day but still in bulls zone



1500 toppish, first setback for bulls after 5-day of bound. But yet to make a major dent on the chart outlook. External cautious despite DJ +200 overnight. Tone gets weaker in PM after EU dips -1% on weaker Germany 2Q GDP, +0.1% vs est +2.7% . DJfuts at low of -100 in late Asian hours.


Fkli maintains wide discount at closing , no catching up like yesterday. Both fbm.fkli remain above immediate short term support, 7SMA. Therefore, upside target 1515-20 still intact.

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