SP phases 15&16 made over 66% headway
project manager of South Pars phases 15&16 at Pars Oil & Gas Co. said: ``So far, SP phases 15 & 16 project has made over 66% total physical headway,'' reported the news agency of Iran oil ministry.
``For today`s session we believe 5,330 could be the key ress zone though momentum still intact with bulls. Hence traders are advised to book partial profits at 5,330 and wait till 5,370 wouldn`t be broke down with substantial volumes. On the flip side 5,200 still act as crucial support in near term. Last session was absolutely a fantastic one as some short positions being squar red off as spot index posted more than 1%return on daily basis. For upcoming sessions 5,160-5,170 should be the next level of support where we might see some consolidation. Below this level we believe momentum may be smashed and we might see some substantial lows near to 5,000,`` notes brokerage house Mansukh.