11th March, Monday (DJIA)

DJIA

What Next?

The DJIA has taken over the historical high convincingly, what will be the next target? The immediate tough resistance will be at 14500 level and the DJIA is expected to hover around the 14500 level to build the necessary base. Further uptrend is expected, however, it is about to reach its peak.

The immediate support is seen at 14200 level, followed by 14000 level and the immediate resistance is seen at 14500 level.

FKLI

Hovering around 1650 Level…

The FKLI is expected to resume its boring session with the index hovering around the 1650 level.

Still in the view that any level near to/ above the 1650 level should give us a good opportunity to initiate short position. Short position remains preferred as the risk of holding long position is very high in current high political risk environment. 

For the week, the immediate support is seen at 1630 level, followed by 1600 and the immediate resistance is seen at 1660, followed by 1680 level.

FCPO

200 Points Range…

The FCPO is expected to resume its 200 points trading range (2400 to 2600) with the immediate support is seen at 2365 level. Not much to be expected provided either of the levels mentioned above can be taken out convincingly. 

The immediate support is seen at 2365 level, followed by 2350 and the immediate resistance is seen at 2450 level, followed by 2550 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.