FKLI bias stays up and a close above 1533 should keep bias intact.
Resistance is now 1540, the high of Monday, then 1550 and further up, the gap of 1562 - 1564.
The 1533 - 1531 level has now turned support. Buyers is also expected to come in at 1524 - 1519 gap. Thereafter, 1500 serves as psychological support. Important low remains at Dec low of 1485.
Either break of 1540 or 1531 also coincide with the break of Tuesday inside day.
The longer term trend is up.
Sentiment again stays weak as futures was at discount to cash. However, look for sentiment to turn should bias stays up.
21 day moving average is now at 1550.
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