Friday, July 18, 2008

Do you see any bull in the weekly FKLI?

No, i don't. Big head and shoulder coupled with weak closing for the week with a long black candle printed. Bear is likely to continue its marathon in near term. We continue to look for the underline support at 1045.5. For upside, resistance is at 1140.0-1145.0

Market view: hold short