Hang Seng The HSI remains in a choppy trend, which is as per our expectation. It declined a bit but has now again gone into a drift. The bias is to weakness at present. We expect this choppy drift to continue into the next week.

The Nikkei trend remains basically positive. The trend looks like it is losing short term momentum and may slow down a bit. However, a move below 10000 could be a negative development.

The FTSE has continued to move up steadily. The bias for the trend is positive and it can move up some more. However, a move below 5850 can mark weakness for the index.

The EMI continues to trend sideways and is failing to find direction. We maintain that this state of affairs can persist for some more time. It can rise to 1150 in the meanwhile.