Bollinger band reading : side way range bound little upside biased.
MACD Histrogram : falling, seller taking some position.
Support : 1540, 1530, 1515 level.
Resistance : 1550, 1560, 1570 level.
Comment :
FKLI closed marginally lower recorded small losses with lower volume transacted doing nearly 3 points discount compare to cash market while regional market closed mixed.
Daily chart formed a down doji bar candle after market opened gap up tested higher resistant level followed by stronger selling pressure pressed price to closed lower heading towards the lower Bollinger band support level with the reading suggesting a side way range bound little upside biased market development.
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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