FKLI closed : 1293 changed : -4.5 point, volume : Lower.
Bollinger band reading : bullish.
MACD Histrogram : turned lower, selling mood accelerate.
Support : 1290, 1286, 1280 level.
Resistant : 1300, 1309 level.
Comment :
Buyer seems closing off their position partially after defending for few days with any fresh leads to push the market higher. Sentiment turned negative partly due to Nov 2009 industrial production index turned decline by 1.3% yoy and with any positive catalyst develop recently. Daily chart reading suggest that a possible uptrend downward correction could be taking place thus market is likely to trade side way range bound downside biased in the near term.
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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