Wednesday, May 12, 2010

Fkli wrap..strong finish..on late buying...




8.45 am -3.45 pm a dead mkt, fkli came back to life on late buying interest after regional ( +0.2%), Europe( +0.2%), Dj fut ( +10) reversed early losses. Earlier all post losses but fkli losses were limited by fbm holding power near 40.

External factors remain cautious, europe-dust still circulating but internally, fbm looking forward to R% announcement and 1Q10 report in coming weeks


Technically, an improvement for bulls, looking good to revisit recent high this week. Upward-bias if above SMAs or 1330. Trading range is raised to 30-50 from 20-40. .


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