After a big gap-up opening, mkt mostly quiet as upside looks excessive above 1320 amid a reluctant fbm. Fkli tight range within 15-20, maintaining +ve posture despite intra-day heavy at 1320.Regional cheered DJ gains but off highs. Europe +1% but not much direction from DJ futs, mostly -20.
Fbm 3-day winning streak, recovered 60% of recent losing streak. It does not look like a bull run yet, relying only on externals push. Fbm.fkli look sideways for many days to come, jugdging from SMAs.
Market bulls need another day of push, away from 1320. Above 1320 is bullish. Otherwise, mkt is seen consolidating within 1300-1320 range, a neutral play. Bears are likely to stay sidelines till 1313 support is breached.
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