Bollinger band reading : correction range bound little downside biased.
MACD Histrogram : recovering, seller taking profit
Support : 1485, 1470, 1458, 1445 level.
Resistance : 1500, 1515, 1530, 1540 level.
Comment :
FKLI closed recorded gain with slowing down volume changed hand doing 5 points discount compare to cash market while overnight US and today regional market traded mostly higher after G7 country Yen intervention and Japan's nuclear power plant reactor rescue effort making progress but markets gains were limited after United Nation official declared no fly zone to Libya kept crude oil price staying at higher level.
Daily chart formed an up doji bar candle closed near to middle Bollinger band level after market opened gap up, traded range bound within a 8.5 points range testing support and resistance to closed 3 ticks above opening price.
Chart reading suggesting a correction range bound little downside biased market development with the correction possibly testing higher resistance level with MACD histrogram forming positive divergence and MACD indicator about the have a positive cross up.
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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