9th September, Monday (DJIA)

DJIA

Hovering around SMA 100…

The DJIA will need to regain its posture above the SMA 100 (15100 level) as soon as possible 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

Hovering around SMA 200…

Nothing has changed since yesterday as long position can be initiated if the index successfully regains its posture above the 1700 level. However, any new position initiation should couple with tight stop loss level as the market is expected to remain in volatile trading environment.

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

Range Trading of 200 Points…

The FCPO is expected to trade within the range of 2380 to 2580 levels. Investors can initiate long position when the FCPO trades near to 2380 level and initiate short position when the FCPO approaches 2580 level.

The immediate support is seen at 2400 level, followed by 2380 level and the immediate resistance is seen at 2450 level, followed by 2500 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.