5th August, Monday (DJIA)

DJIA

Overall, the index is expected to resume its upward trading with the immediate resistance is seen at 16000 level only. The index is expected to hover around the 15500 level and any break above or below the 15500 level convincingly should give us an indication of the market direction.

The immediate support is seen at 15500 level, followed by 15300 level and the immediate resistance is seen at 15800 level, followed by 16000 level. 

FKLI

Range Trading of 1755 to 1795 Levels…

The FKLI is expected to trade within the range of 1755 to 1795 level. Any level above 1795 should give us an opportunity to initiate short position with stop loss level being set around 1805 level.

For the week, the immediate support is seen at 1770, followed by 1750 and the immediate resistance is seen at 1790 level, followed by 1800 level.

FCPO

Trading Above 2215 Level…

So long as this level can be convincingly taken over, more upward trading is expected. Long position will be preferred with stop loss level being placed around 2180 level.

For the week, the immediate support is seen at 2200 level, followed by 2150 level and the immediate resistance is seen at 2250 level, followed by 2300 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.