20100706 1304 FKLI Mid Day Hourly Chart Study.

FKLI closed : 1295 changed : +1.5 point, volume :high.
Bollinger band reading : correction downside biased.
MACD Histrogram : recovering, seller taking profit.
Support : 1290, 1285, 1280 level.
Resistant : 1300, 1310, 1318 level.
Comment :
FKLI ended the first session little higher after market opened lower followed by seller profit taking pushed price to recover upwards. Hourly chart shows that market is having a pullback correction within a downside biased market.