Bollinger band reading : correction range bound little upside biased.
MACD Histrogram : resume lower, buyer seller battling.
Support : 1540, 1530, 1515, 1500 level.
Resistance : 1550, 1565, 1580, 1590 level.
Comment :
FKLI closed recorded loss with lower volume changed hand doing 6.5 points discount compare to cash market that closed marginally lower while Asia and Europe traded severely lower after overnight U.S. market closed substantially lower.
Daily chart formed a small body up doji bar candle closed below middle Bollinger band level after market opened lower, traded range bond within tight 5.5 point range market and closed near opening price level.
For near term, market still likely to trade correction range bound little upside biased development testing support and 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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