Bollinger band reading : correction range bound downside biased.
MACD Histrogram : recovering, seller taking profit
Support : 1485, 1470, 1458, 1445 level.
Resistance : 1500, 1515, 1530, 1540 level.
Comment :
FKLI closed recorded marginal loss with decreasing volume transacted doing 1 point discount compare to cash market despite overnight US market closed severely lower while regional markets ended while regional market traded mostly lower meanwhile Japan putting lots of effort to rescue the nuclear power plant from getting worst.
Daily chart formed an up doji bar candle with longer lower shadow positioned between lower and middle Bollinger band level after market opened gap down, tested lower followed by seller profit taking activities pushed up higher recovered most of earlier losses to closed near the higher of the day.
Technical chart reading suggesting a correction range bound downside biased market development possibly testing higher resistance level with MACD histrogram forming positive divergence.
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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