Despite weak external, fbm downside was limited by strong commodities. Financials weak. Overall subdue, focus on Maxis ( 5.42/+8%).
Fkli not so lucky…no commodity to support…..hitting psychological support of 70 as sentiment was technically negative after it breached 7SMA. Dwside risk towards 60 growing… the only good news is fbm still above 75/7SMA and premium to fkli.
FKLi intra day resistance for trading is lowered to 78 from 80.
Well, unless the mkt can do wonders tomorrow, meaning a closing above 82, we r probably looking at 60-90 boring range for the remaining Nov. Below 70, a trading sell.
Next position-buy is “82 stop on closing.”
Fkli not so lucky…no commodity to support…..hitting psychological support of 70 as sentiment was technically negative after it breached 7SMA. Dwside risk towards 60 growing… the only good news is fbm still above 75/7SMA and premium to fkli.
FKLi intra day resistance for trading is lowered to 78 from 80.
Well, unless the mkt can do wonders tomorrow, meaning a closing above 82, we r probably looking at 60-90 boring range for the remaining Nov. Below 70, a trading sell.
Next position-buy is “82 stop on closing.”
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