FCPO Weekly: Likely to move higher in near term

Market violated the recent high at 2521 levels convincingly and close off the high for the week had strengthen further the immediate technical landscape. Thus, market likely to continue to move higher in near term with upside resistance is now looking at 2600-2650 followed by 2800 levels. While, downside support is adjusted to 2428-2419 (left over gap on 29/11/2009).