FKLI closed lower for another day as Wall Street offered no fresh leads for Asian markets. The closely monitored Dow Jones Industrial Average moved in and out of positive territory throughout the trading day before closing almost unchanged overnight.
Trading in Asian stock markets was lacklustre. Buying momentum slowed as investors appear to be moving to the sidelines while selling pressure was also muted in the absence of significant developments.
FKLI bollinger band continouesly contracting with candle went below middle BB. It turns middle BB become the immediate resistance for FKLI. As long as BB width not expanding with candle below middle BB, FKLI downside risk is minimal.
Support = 1050, 1037.5, 1034.5
Resistance = 1065, 1068.5, 1074
HAPPY TRADING!!
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