Bollinger band reading : side way range bound.
MACD Histrogram : recovering, buyer testing market.
Support : 1530, 1515, 1500, 1485 level.
Resistance : 1540, 1550, 1565, 1580 level.
Comment :
Last trading of the month FKLI closed recorded small gain with lower volume changed hand with May 2011 contract doing less that 1 point discount compare to cash market that recorded small loss while regional markets traded mixed ahead of long weekend plus Monday holiday.
Daily chart formed a down doji bar candle closed little above middle Bollinger band level after market opened and traded higher before retreated lower tested support level and closed recovered slightly.
Reading wise, market still likely to trade side way range bound market development testing support and resistance level for the near term.
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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