DJIA
Hovering Around 12000 & SMA 200!
The DJIA has been hovering around the 12000 level for nearly 3 weeks and any convincing break through above/ below the 12000 level will indicate the market direction for the near term. This will be the reference level that investors should closely monitor. However, the “convincing” breakthrough for the DJIA will be + / - 300 points cause of the higher volatility in the DJIA. The current range will be within the Fibonacci level of 50% to Fibonacci level of 78.6%. Immediate support is seen at 12000 level, followed by 11900 level and immediate resistance is seen at 12100 level, followed by 12300 level.
FKLI
Immediate Resistance – 1481 Level!
The FKLI remains hovering within the Fibonacci level of 50% and Fibonacci level of 61.8% (1445 – 1481 levels) and this will be the reference level for intraday or short term trading. Investors should remain intraday or short term trading (less than 3 days) as the index is in a consolidation phase without a clear direction ahead.
Immediate support is seen at 1450 level and immediate resistance is seen at 1481 level.
FCPO
Approaching Important Resistance Level!
The FCPO closed near to its day’s high and approaching the tough resistance level that we are eyeing thus far – 3225 level. Investors should at least take your first batch of profit and closely monitor on the development. If the 3225 level is being taken over convincingly, investors can ride on the uptrend, else, investors should turn short with the stop loss being placed around the 3250 level.
Immediate support is seen at 3150 level and immediate resistance is seen at 3220 – 3225 levels.
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