Two days of playing defensive side at critical support lvl amid weaker DJ. Fkli recovered from selling under 1320 to trade mostly firmer at 1320-25, encouraged by fbm’s resilience above 20. Externals were mixed to lower tone. Europe/DJ fut mildly –ve in late Asian hours
Fbm quiet and –ve till the last data. A 3p push to finish at day’s high, keeping fkli at the upper end after a very cautious day.
Technically, the recent uptrend momentum is over and it needs to recover 1330 to start all over again. A poor finish for the week, below 7SMA - putting 1350 on hold, now focus is to protect support lvl. Further weakness below 1320 could lead to a pullback towards 1300 first.
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