Sharp rise in the FTSE100 last week to 6909 levels suggests the two-week losing streak/corrective move from 6955.3 levels has ended and the index is likely to see a dip demand so long as the weekly 5-MA and 10-MA around 6850 is not breached on the daily closing basis.
The doors remain open for a rise to 7K, although caution is advised till the index trades below 6937 levels.
The doors remain open for a rise to 7K, although caution is advised till the index trades below 6937 levels.
