1st April, Monday (DJIA)

DJIA

Hovering Around 14500 Level…

Nothing much has changed since last week, the index is expected to hover around the current level to build the necessary foundation before further upside can take place. However, I am in the view that the current level is at its peak and minor retracement is expected to set in.

For the week, the immediate support is seen at 14500 level, followed by 14200 level and the immediate resistance is seen at 14600 level, followed by 14700 level.

FKLI

Drawing Nearer to Election – What to Do?

As the GE-13 is drawing nearer, I reiterate that short position will be preferred with the immediate reliable support is being seen at 1600 level only. Investors should look for opportunity to initiate short position instead of searching for opportunity to initiate long position. The risk of holding long position is very high in current high political risk environment.

For the week, the immediate support is seen at 1650 level, followed by 1620 and the immediate resistance is seen at 1680, followed by 1700 level.

FCPO

Re-Test the Lower Band of the Range – 2365 Level!

Not much to be expected as the FCPO is expected to resume its tight range trading – 100 points (2375 to 2475 levels) with the immediate support at 2365 level.

Provided the 2475 level can be taken over, then only we will see the FCPO to resume its 200 points trading range (2400 to 2600).

Investors can take a risk by initiating long position since the FCPO is approaching its lower band of the 100-point range that we are looking at with the stop loss level being set around 2345 level.

For the week, the immediate support is seen at 2350 level, followed by 2300 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.