20110228 1747 FKLI EOD Daily Chart Study.

FKLI closed : 1491 changed : -1.5 points,  volume : lower.
Bollinger band reading : downside biased.
MACD Histrogram : getting lower, seller taking exposure.
Support : 1480, 1470, 1458, 1445 level.
Resistance : 1485, 1500, 1515 level.
Comment :
FKLI closed recorded small loss with lower volume changed hand while regional market closed mostly higher where else Mar 2011 contract ended 1 tick lower doing nearly 9 points discount compare to cash market .
Daily chart formed a down doji bar candle with long lower shadow after market opened gap down tested lower level and recovered to close near lower Bollinger band level.
Reading wise suggesting a downside biased movement market development potentially testing lower lower support level else market will be trading correction range bound.
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.