A flurry of buying in the early half of AM on GLC leads, losses some steam and defensive play in PM session but fbm.fkli managed stay in +ve territory. Fbm stuck under 1430 in PM before a 4p jump in the preclosing phase pushed it back above 1430, causing fkli to head higher again from 1426 as sellers cut lost again on fbm moves.External factors remains all the same throughout the day – recovery mode from Tues’s losses
Bad news for retails, mkt is getting stronger !. Above 1425 is deemed bullish for this week, targeting 1450. In the meantime, selling is likely to be limited to intra-day basis with active bears sidelines as long as mkt stays above 7SMA.
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