Bollinger band reading : correction range bound upside biased.
MACD Histrogram : falling, buyer leaving and seller testing market.
Support : 1550, 1540, 1530, 1515 level.
Resistance : 1565, 1570, 1580, 1590 level.
Comment :
FKLI closed recorded small gain with lesser volume changed hand nearly on par with cash market that closed little lower. Overnight U.S. markets closed mixed and today Asia markets traded higher while European markets currently registering gains.
News on Chinese banks are allowed to keep lending to local governments, better than estimate U.S. home sales, Germany vote for Greece second bailout and retreating crude oil price lift global markets to trade higher.
Technical reading still suggesting a correction range bound upside biased market development with roll over activities taking place.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistance or strength with quick cut loss and profit target.
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