Bollinger band reading : bearish with pullback
MACD Histrogram : dived deeper, seller still in charge.
Support : 1260, 1253, 1230 level.
Resistant : 1267, 1274, 1280 level.
Comment :
Pullback effect correction took place today on FKLI that traded higher ended the day with a doji bar candle.
Seller decided the cash in their account realising some of their short positions profit after 2 days of hard work.
Daily chart still look bearish with possible correction to continue take place in the near term. Thus market is likely to trade side way range bound downside biased.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant/strength/break down with larger cut loss and profit target.
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