Bollinger band reading : correction range bound, upside biased.
MACD Histrogram : getting lower, seller testing market with buyer reducing exposure.
Support : 1445, 1425, 1405 level.
Resistant : 1458, 1470, 1500 level.
Comment :
FKLI plunged lower badly in higher volume traded after opened and tested little higher followed by seller selling activities testing the market triggered buyer to reduce their position letting price to closed near the low of the day. Daily chart wise, market formed a wide range down bar candle testing support level near middle Bollinger band and the reading remained unchanged calling for a correction range bound upside biased market testing lower support level.
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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