FKLI closed(spot month) : 1270, changed : -8 points, volume : slightly lower.
Bollinger band reading : bullish but side way ranging likely.
MACD Histrogram : turned lower, long position profit taking.
Support : middle Bollinger band, 1256 level.
Resistant : 1279.5 level.
Comment :
Indeed a pullback effect due to overbought condition. Long position profit taking. Expecting market to trade side way ranging with possible further downside correction.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target
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