20100104 1308 FKLI Mid Day Hourly Chart Study.

FKLI closed : 1275, changed : +8.5 points, volume : high.
Bollinger band reading : neutral to bullish biased.
MACD Histrogram : improving slowly.
Support : 1273.5, middle Bollinger band level.
Resistant : 1278.5 level.
Comment :
Opened gap up and traded side way range bound for the morning session. Hourly chart wise, market could still trade side way ranging with some room for downside.