Bollinger band reading : side way range bound.
MACD Histrogram : rising, buyer taking small exposure.
Support : 1515, 1500, 1485 level.
Resistance : 1530, 1540, 1550, 1580 level.
Comment :
FKLI closed 1 tick lower with higher volume participation doing about 2 points premium compare to cash market while regional market ended higher despite overnight Dow Jones market negative close.
Daily chart formed another up doji bar candle with longer upper shadow after market opened gap down, tested support and resistance level and closed almost unchanged positioned in between middle and upper Bollinger band level with the bandwidth turning inwards.
Chart reading, wise, market is likely to move side way range bound possibly testing higher resistance level as buyer seems little more aggressive to stay on.
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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