Friday, February 05, 2010

Fcpo wrap..very strong..internal sentiment


-despite a bearish environment, selling pressure in fcpo was short-lived. Bulls took control of the mkt after Apr10 managed to regain 2500. Last 5 mins buying pushed mkt to finish near intra-day high
-bulls intention remains on target, in fact facing less pressure than expected today. Above 2500 is strong buy, with strong potential of reversing the mkt dwtrend following a selldown from 2700-2400 tone previously, if it trades within 2550-2600 "crossroad" levels
-immediate support is raised from 2470 to 2500.

No comments:

Post a Comment