FKLI bias stays down as price closed near day low.
Support is now yesterday’s low of 1447 followed by 1438. Stronger support is at Aug low of 1427.
Resistance is still at 1465, near high of last Friday. Further resistance is at 1490 and psychological 1500.
The longer term trend is neutral to down.
Sentiment stays weak as futures was priced as discount to cash.
The 21 day moving average is now at 1478.
R1/1465 R2/1490 R3/1500
S1/1447 S2/1438 S3/1427
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