FKLI closed : 1302, changed : +5 points, volume : lower.
Bollinger band reading : uptrend with side way ranging likely.
MACD Histrogram : edge up slowly, buyer dominance.
Support : 1290, middle Bollinger band level.
Resistant : 1309, 1335 level.
Comment :
FKLI weekly chart uptrend remained intact with Bollinger band reading still suggesting a side way range bound market and MACD Histrogram reading improved marginally. However, buyer seems a little exhausted with MACD Histrogram still strugelling to put a step into the positive zone. Should bollinger band turned expanding and MACD Histrogram rise above zero line level in the coming weeks, market should potentially trade higher or else, market is likely to stay side way ranging.
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