Monday, November 3, 2008

FCPO Daily: market set to bottom out


Market looks firm with another day close at 10% daily limit up. Market looks get ready to bottom out in near term. We now look for the immediate resistance at 1727-1734 (gap left over since 15 Oct, 2008) followed by 1798-1825 (gap left over since (14 Oct, 2008). Downside support is pegged at 1593-1539 (gap left over today) followed by 1491-1441 (gap left over since 29 Oct, 2008)