Thursday, May 19, 2011

Fkli wrap...+ve but still sideways and toppish...


Fbm.fkli finish +ve but in a less than convincing fashion. Off highs and near day’s lower band. Fkli very cautious after failing to clear recent resistance as panic selling set in following fbm rapid fall from 1550 mark in the opening mins on TENAGA “erratic” moves.

Fkli remains under 1540 despite favorable externals. Regional mostly firmer tone, Europe +0.5%. DJ flat. Bulls are saving the best for next week ? Immediate support is catching up . Above 1535 is bullish , for 40-70 play next week.

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