A slow start but Fkli comes alive in PM session, the most upbeat tone, relatively to fbm, since hitting 1500. Fbm mixed, steady but stuck at –ve bias zone while fkli made strong reversal, discounting yesterday’s move and staring at 1500 again.
Confidence grows as hours go by…wonder why ? maybe buybacks as mkt near resistance lvls.
Regional mostly higher on SH ( +1.6%) and HS ( +1.3%) cues, DJ futs off lows, flat. Europe fails to provide a clear direction sense.
Fbm.fkli escape a follow through breakdw scenario, 50-70 range, thanks to US financials earnings report. But immediate breakout above 1500? Unlikely. It seems like a sideways mkt this week. Maybe in the final week if still remains within 1490-1500 range.
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