Fbm.fkli mostly sluggish and cautious for most of the day till 4.30 pm. Strong Europe/DJ gains prompted Fkli late buying plus fbm closed near day’s high too after seesawed near 56-57. However, 65% of fkli vol was derived from roll activities.
Europe gradually extends gains to near +1% after the opening bell. Earnings +ve. DJ futs also at its high +50.
Technically, a breakout of 3 day range, pointing at 70 tomorrow if fbm crosses above 60. Both likely to finish July on strong tone after today’s actions, setting the springboard for an upward move in early Aug, targeting 1380-1400.
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