26th August, Monday (DJIA)

DJIA

As mentioned, the DJIA will need to stay above the SMA 100 (15100 level) to avoid suffering major retracement. Breaking below the above mentioned level will indicate more downside for the DJIA moving forward. The next reliable & strong support level is only located at 14650 level & 14400 level (SMA 200). 

The immediate support is seen at 14600, followed by 14500 and the immediate resistance is seen at 15100, followed by 15400 level.

FKLI

Long Position is Preferred…

FKLI remains having a strong support at 1700 level (SMA 200 & psychological level). This should give investors a good opportunity to initiate long position with stop loss being set around 1690 level. 

Investors who have initiated long position yesterday should consider taking your first level of profit around 1745 level only.

The immediate support is seen at 1700 level, followed by 1680 level and the immediate resistance is seen at 1720 level, followed by 1730 level.

FCPO

Closer…

The FCPO is again approaching its tough resistance – SMA 200. The FCPO is expected to remain its tight range trading of 2300 to 2375 level (SMA 200). Provided either of the above mentioned level is being taken over, else, nothing much to be expected. However, long position remains preferred with stop loss level being set around 2290 level, especially if the FCPO managed to take over the SMA 200 level convincingly.

The immediate support is seen at 2300 level, followed by 2270 level and the immediate resistance is seen at 2350 level, followed by 2400 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.