Bollinger band reading : pullback correction upside biased.
MACD Histrogram : rising, buyer in control.
Support : 1550, 1540, 1530, 1515 level.
Resistance : 1565, 1580, 1590, 1600 level.
Comment :
FKLI closed 1 tick lower with little improvement volume transacted doing half point premium compare to cash market that closed little lower while regional(Asia & European) trading mixed and overnight U.S. market surge higher.
Traders seem realising partial profit after yesterday surged.
Daily chart formed a down doji candle closed below upper Bollinger band level after market opened and edge up little higher, slide down lower before recovered slightly to closed off the low of the day.
Chart reading shows that market is having pullback correction within an upside biased market development testing support and resistance level.
When to buy : buy at support or weakness with larger cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
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