Bollinger band reading : correction range bound downside biased.
MACD Histrogram : recovering, seller taking profit.
Support : 1500, 1485, 1470 level.
Resistance : 1515, 1530, 1540 level.
Comment :
FKLI closed recorded marginal loss with decreasing volume transacted doing nearly 1 point discount compare to cash market as sellers continue to realising profit while regional market closed mostly recorded gain.
Daily chart formed an up doji bar candle with long lower shadow after market opened gap down tested lower support level and recovered upward to closed nar the high of the day with the reading wise suggesting a correction range bound downside 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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