Bollinger band reading : side way range bound little upside biased.
MACD Histrogram : rising, buyer taking small exposure.
Support : 1515, 1500, 1485, 1470 level.
Resistance : 1530, 1540, 1550, 1580 level.
Comment :
Another 6.5 points range market FKLI closed recorded small gains with better volume traded doing 1.5 point premium compare to cash market while regional markets ended mostly in positive territory.
Daily chart formed an up doji bar candle with longer lower shadow positioned between middle and upper Bollinger band levels after market opened gap up and traded range bound before closed near the high of the day.
Chart reading remained suggesting a side way range bound little upside biased market development testing the plotted downward trend line resistance level.
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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