Immediate Resistance – 13000 Level!
The index is facing with the immediate resistance at 13000 level, provided the above mentioned level can be taken over, the index will able to re-challenge the recent high – 13300 level, else, we will see the index stuck in the 300 points range (12500 to 12800 levels).
For the week, the immediate support is seen at 12500 level, followed by 12000 level and the immediate resistance is seen at 13000 level, followed by 13300 level.
FKLI
It is still too early to confirm the above question, provided the recent high can be taken over convincingly, else, we will see the index to hover within the 1600 to 1615 levels. We are ready to change our strategy so long as the above mentioned level is being taken over convincingly, else, at current level, short position remains preferred.
For the week, the immediate support is seen at 1600 level, followed by 1580 level and immediate resistance is seen at 1615 level, followed by 1630 level.
FCPO
Important Level to Look at – 3040!
Nothing much has changed for the week and the same view is expected to resume for this week. As mentioned, provided the FCPO can regain its posture above the 3040 level (Fibonacci level of 23.6%), then the rebound will be firmer, else, it is still being perceived as a technical rebound only and the FCPO will be trading within the range of 2850 to 3040 levels.
For risk taker investors, investors can initiate short position with stop loss level being set around 3060 level.
For the week, the immediate support is seen at 2900 level, followed by 2850 level and immediate resistance is seen at 3050 level, followed by 3150 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.
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