1st July, Monday (DJIA)

DJIA

Range Trading of SMA 100 to SMA 20…

The index might be trading within the 14700 to 15000 levels for the week. Any drop below the 14700 might trigger further selling pressure to the market. Nothing much to be expected as it might be hovered around the 15000 level.

The immediate support is seen at 14700, followed by 14500 and the immediate resistance is seen at 15000, followed by 15200 level. 

FKLI

Range Trading to Resume?

As mentioned, the FKLI has been traded within the 1750 to 1790 range for the past 2 months, any drop below/ above the range mentioned above might cause a strong trend towards respective direction.

Investors who are holding long position will need to take extra cautious as this might be the start of the downward trading, especially when the index has been trading below the SMA 20 (1770) for more than a week. Any rebound above 1780 should serve as a good level to initiate short position.

The FKLI might need to close the gap set after the GE13 (1720 – 1700) before any technical rebound can set in.

The immediate support is seen at 1750 level, followed by 1730 level and the immediate resistance is seen at 1770 level, followed by 1780 level.

FCPO

Short Term Downward Trading…

The FCPO not able to take over the SMA 200, this might attract more shortist as the next reliable support is seen at 2250 level only. Any dropped below/ near to the mentioned level should serve as a good level to initiate long position with stop loss being set around 2220 level.

The immediate support is seen at 2300 level, followed by 2250 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.