Bollinger band reading : upside biased with possible pullback correction.
MACD Histrogram : rising, buyer patrolling.
Support : 1565, 1550, 1540, 1530 level.
Resistance : 1580, 1590, 1600, 1610 level.
Comment :
FKLI closed recorded gain with lower volume participation doing about 1 point premium compare to cash market that closed firmer while Asia and European market traded mostly higher with overnight U.S. market closed higher.
Markets awaits vote in the Greek parliament that investors hope will approve an austerity programme(tax increases and spending cuts) demanded by international lenders result and feel optimistic that the unpopular package will be approved.
Daily chart formed a small body up doji bar candle closed above upper Bollinger band after market opened higher, moved side ways within a narrow 4 points range bound market toward the end to closed near the high of the day as Jun 2001 contract near expiry.
Chart wise, market is likely to trade upside biased with possible pullback correction testing support and resistance level.
When to buy : buy at support or weakness with moderate cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
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