Tuesday, August 03, 2010

Fcpo wrap...late buying save the day...for bulls


After a weak start, bulls faced more challenge in PM session following SO about-face, from +0.5% to 0%. But selling was mostly related to profit take sell and no trend related. Late buying noted after red-line support holds.,,,, a consolation for bulls.

While encouraging seeing mkt off lows, staying above 2550 is not enough as fcpo needs to regain 2570 for an immediate attempt at 2600.

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