Bollinger band reading : downside biased.
MACD Histrogram : weakening, seller testing market
Support : 1485, 1470, 1458, 1445 level.
Resistance : 1500, 1515, 1530, 1540 level.
Comment :
FKLI closed recorded marginal loss with lower volume participation doing 4 points discount compare to cash market after while regional markets ended mixed as impact of the Japan on going earthquake damage still taking place(with top concern on nuclear power plant explosion and radioactive leakage) plus middle east turmoil condition still persist.
Daily chart formed an up doji bar candle with long upper and lower shadows positioned near lower Bollinger band level after market opened gap down, traded lower and recovered upward registering gains but fear on potential risk due to unsettle Japanese and middle east condition leaded market to surrender all gains to record small loss during the last trading hour.
The chart reading turned into suggesting a downside biased market development with MACD indicator about to have a negative cross over but having said that market seems supported well today.
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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