Thursday, July 14, 2011

Fkli wrap....in and out of 80.....sideways



Fbm.fkli steady near 1580 all day - both in AM when regional falls,-1%, after Moody’s US$ warning and in PM when regional rebounds to finish flat, after EU reacts mildly, -0.5%, to Moody’s US$ warning. DJfuts also recovers from a -50 to +20 in late Asian hours.

Like yesterday, fkli performs better than fbm amid +ve bet on DJ tonight and fbm faces strong resistance at 80.

No major fresh tech signal if stuck within 75-85. Likely same scenario tomorrow.

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