FKLI bias turned up after a higher close and price has to close above 1490 to keep bias intact.
After 1490, expect resistance at psychological 1500 and thereafter the low of two weeks back of 1508.
The 1480 level has now turned into support and thereafter 1470, the low of Monday.
The longer term trend is neutral.
Sentiment stayed upbeat for two days in a row now as futures was priced at premium to cash.
The 21 day moving average is now at 1509.
R1/1490 R2/1500 R3/1508
S1/1480 S2/1470 S3/1455
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