Bollinger band reading : correction range bound little upside biased.
MACD Histrogram : recovering, buyer seller battling.
Support : 1550, 1540, 1530, 1515 level.
Resistance : 1565, 1580, 1590, 1600 level.
Comment :
FKLI closed 2 ticks higher with half of last Friday volume exchanged doing 4 points discount compare to cash market that closed recorded loss while Asia and Europe trading mostly lower despite last Friday U.S. market closed little higher.
A possible Greek default due to European leaders fails to agree on aid payout dragged on market negative sentiment.
Daily chart formed a down doji bar candle positioned between middle and upper Bollinger band level after market opened higher, traded side way within tight range market followed by second session downward movement before recovered slightly to closed off the low of the day.
Again, FKLI still likely to trade in 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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