FKLI turned down after closing below morning low and a close below 1545 should keep bias intact.
Support is expected at the gap of last week, the area of 1536-1533 and then 1524. Minor support may come at the then important level of 1540.
The 1545 has not turned resistance but price would not turn up until it closed above 1550 resistance level. Further up, expect selling at 1562.
The longer term trend is up but price has to close above 1580 to confirm it.
Sentiment nonetheless stayed upbeat as futures was still at premium to cash.
The 21 day moving average is now at 1530.
R1/1545 R2/1550-52 R3/1562
S1/1540 S2/1536-33 S2/1524
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