21st January, Monday (DJIA)

DJIA

Heading towards Historical High – 14200 Level!

The Index will hover around the current level for a few days before further upside can be resumed. We should see the DJIA to move towards the 14000 level and re-challenge the historical high of 14200 level. 13000 level – remains as a reliable support level as both the SMA 200 & psychological level located.

For the week, the immediate support remains at 13500 level and the immediate resistance is seen at 13800 level, followed by 14000 level.

FKLI

Sustaining Above SMA 20!

The index seems trying to sustain above the SMA 20 and so long as this level can be sustained, the upside is expected to resume. However, the trading range will be within the 20 points only (1680 to 1700).

The immediate support is seen at 1680 level, followed by 1670 and the immediate resistance is seen at 1690 level, followed by 1700 level.

FCPO

Immediate Reliable Support – SMA 30!

The immediate important support will be at SMA 30 (2378), breaking below this level will cause the FCPO to retrace another 100 points before the next support (2270) is able to set in. Investors should closely monitor the 2370 level for any new position initiation.

I am still in the view that it is worthwhile to take the risk by initiating long position with stop loss level being placed around 2350 level as the SMA 30 remains as a reliable support level.

The FCPO is expected to hover around the 300 (2300 to 2600). Provided the 2600 level (SMA 100) can be taken over convincingly, only we should see the FCPO to re-challenge the 2900 level (SMA 200). 

Not much to be expected as the FCPO will remain in the range of 2600 to 2300 level. The immediate support is seen at 2370 level, followed by 2350 level and the immediate resistance is seen at 2400 level, followed by 2450 level.

Disclaimer:

The information herein was obtained or derived from the source that I believed are reliable. No liability can be accepted for any loss that may arise from the use of this report. All opinions and estimates included in this report constitute my judgment as of this date, not an invitation to buy and are subject to change without further notice.