Bollinger band reading : upside biased.
MACD Histrogram : falling lower, seller taking exposure.
Support : 1570, 1565, 1550, 1540 level.
Resistance : 1580, 1590, 1600, 1610 level.
Comment :
FKLI closed recorded gain with reduced volume participation doing 2.5 points premium compare to cash market that closed little lower. Overnight U.S. markets closed marginally higher and today Asia markets having mixed development while European markets drifting between gain and losses.
Global markets traded mixed after China reported slower foreign direct investment for the fourth straight month and India Central Bank left interest rate unchanged amid economy slowdown.
Daily chart form an up doji bar candle with reading adjusted to suggesting an upside biased market development possibly testing resistance near upper Bollinger band level.
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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