Lucky for fkli bears this week as fbm remains stagnant – no breakout above 70 but +ve above 60 - against strong externals. But, maybe no such luck next week
Despite fbm's drag, Fkli takes premium stance this week from discount stance in the previous week. And looks ready for fresh upper range next week, if both fbm.fkli do a breakout above 70 for 1570-90 play. Above 1563 is +ve and potentially 1600.
Regional finish on upbeat tone this week after a cautious start as Greece finally struck a deal with IMF….giving bulls a good weekend. Likely to see more relief rally next week w/o Greece default’s hangover, at least +ve mode till the first week of July. Thereafter, US 2Q11 earnings will take centre stage.
Despite fbm's drag, Fkli takes premium stance this week from discount stance in the previous week. And looks ready for fresh upper range next week, if both fbm.fkli do a breakout above 70 for 1570-90 play. Above 1563 is +ve and potentially 1600.
Regional finish on upbeat tone this week after a cautious start as Greece finally struck a deal with IMF….giving bulls a good weekend. Likely to see more relief rally next week w/o Greece default’s hangover, at least +ve mode till the first week of July. Thereafter, US 2Q11 earnings will take centre stage.
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