FKLI bias stays down after another lower close and a close below 1462 should see bias intact.
Immediate support is now the uncovered gap of 1455 and then 1436.
The 1470 has now turned resistance and followed by week high of 1490.
The close below 1470 has now turned the longer term trend down.
Sentiment stayed weak as futures was price cheap.
The 21 day moving average is now at 1500.
R1/1470 R2/1490 R3/1500
S1/1455 S2/1436 S3/1420
FKLI bias turned down after a close below 1470 and a close below 1465 should keep bias intact.
Support is now yesterday's close of 1465 and then the uncovered gap of 1455.
The 1470 has turned into resistance and then yesterday's high of 1490.
The longer term trend stays neutral.
Sentiment turned weak as futures was priced cheap.
The 21 day moving average is now at 1505.
R1/1470 R2/1490 R3/1500
S1/1465 S2/1455 S3/1436
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
FKLI bias is neutral after price rallied in the afternoon but a close below 1470 should see bias turning down again.
Resistance is still 1480, the high of yesterday and followed by 1490, the high of gap of Monday and 1500 psychological level.
Below 1470, support lies at 1455, the uncovered gap of two weeks back and then 1436.
The longer term trend is neutral.
Sentiment was surprisingly upbeat as futures was priced at a good premium over cash, the first time in more than two weeks.
The 21 day moving average is now at 1512.
R1/1480 R2/1490 R3/1500
S1/1470 S2/1455 S3/1436
FKLI bias stays down but it as to close below 1470 to keep bias intact.
Support remains at 1470, the low of last week and then the uncovered gap of 1455.
The gap of Friday of 1485-90 has now turned resistance and expect stronger selling at psychological 1500 level.
The longer term trend is still neutral.
Sentiment remained subdued, as it did more most part in the last two weeks, as futures was price at discount to cash.
The 21 day moving average is now at 1517.
R1/1485-90 S2/1500 S3/1508
S1/1470 S2/1455 S3/1436
FKLI bias stays down after failing to close above 1500 but a close above it should turn bias up.
Support is now 1490, the low of yesterday and then 1480, the gap of early week followed by 1470.
Strong resistance is at psychological 1500 and then last week's low of 1508, followed by the gap of 1530.
The longer term trend is neutral.
Sentiment stayed weak, as futures was price at discount.
The 21 day moving average is now at 1524.
R1/1500 R2/1508 R/1530
S1/1490 S2/1480 S3/1470
FKLI bias turned down after closing below morning low and also 1490 support level.
Further support is expected at 1480, the low of the gap of Monday and then 1470, the low of Friday, and followed by the uncovered gap of 1455.
The 1490 level has now turned into resistance and expect selling at 1500 psychological level and last week's low of 1508.
The longer term trend remains neutral.
Sentiment stay weak as futures was price at steep discount to cash.
The 21 day moving average is now at 1527.
R/1490 R2/1500 R3/1508
S1/1480 S2/1470 S3/1455
