Fkli very resilient near 1305 till 4.50 pm, maintains premium stance despite HS and SH weakness, -1%. Bargain buying at support lvls limited its losses. But late selling pull prices back to its low end. For today, the selling stops at the previous gap-up starting point or near 1/3 adjustment.
Still, technically bearish, below 7SMA, ending the current upward momentum and bulls needs to start afresh. Amid a trading sell tone, not to sure whether 1300 is good bargain but rather 1280-1290 as upside is limited on recovery tone first, if any.
At mom, hope is for 1300 to hold, at the mercy of DJ tonight. And it needs to regains at least 1310 to be convincing. Below 1310, is all about finding the next support.
No comments:
Post a Comment