Another profit taking day. Initial selling in banking stocks pull fbm towards 80 in AM, but bounce mode for most of the day. Fbm.fkli mostly stagnant near the mid point in a very quiet PM session.
From 1490-1500 yesterday to 1480-90 today but fkli manages to sustain back above 7SMA support line, barely. But wishing for a closing above 92. Uptrend remains intact but 1475-1500 is a sideways range, -ve tone if < 1490-92. And risk of a pullback towards 1450 if 1475-80 support breaks.
While still above uptrend line, Fbm must regain at least 1496 to reverse its trading sell outlook. Otherwise, “testing-support” mode.
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