5th August, Monday (DJIA)

DJIA

Strong Support – 12600 Level!

The DJIA is expected to hover around the 13000 level for the week and 12600 level will be well defended as both the SMA 200 and Fibonacci level of 78.6% fall on the above mentioned level. Immediate resistance remains at 13300 level (recent high) and provided the 13300 level can be taken over convincingly, we will see the DJIA to re-challenge its historical high, else, the index will be hovering within the 13000 to 13300 level.

For the week, the immediate support is seen at 13000, followed by 12600 level and the immediate resistance is seen at 13200 level, followed by 13300 level.

FKLI

Range Trading to Resume – 1650 to 1620 Levels!

For the week, nothing much can be expected as the index will resume its tight range trading (within 1620 to 1650 levels). Investors can take the above levels as a reference level for any fresh position initiation (initiate long position when the FKLI approaches 1620 level and initiate short position when the FKLI approaches 1650 level). We will only revisit our strategy provided the above mentioned level being taken out convincingly.

FCPO

Range Trading Resume – 2850 to 3050 Levels!

Nothing much has changed since last week and we are expecting this week will be trading in a way like last week.

At current level, even the 3000 level will remain tough for the FCPO as both the SMA 20 & psychological level is around this level. At the moment, the FCPO is expected to remain in the range trading of 2850 to 3050 levels.

Any fresh position initiation should take the above mentioned level as a reference level (long when the FCPO approaches 2850 level and short when the FCPO approaches 3050 level).

For the week, the immediate support is seen at 2850 level, followed by 2750 level and immediate resistance is seen at 3050 level, followed by 3100 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.