FCPO Weekly: Defended at 2400 levels

Market is trying to defend at 2400 levels after straight three weeks losses. Overall momentum getting weaker and market may continue to move sideways to lower in near term. As for now, we are looking for the immediate upside resistance at 2650. To the downside, immediate support is lies at 2400 followed by 2305-2285 (gap left over on 22/11/2009).