A narrow price band was seen on 10 Aug, with a 4.54-point range traded between 1,778.18 and 1,773.64. The index inched down by 0.17-points on some minor profit-taking activities to settle at 1,777.17.
Supports at 1,751, 1,760 and 1,762 may be obvious for 11 Aug, whilst heavy profit taking at the 1,777, 1,788 and 1,796 resistance areas will cap the index rise. Four of its indicators (CCI, DMI, Oscillator and MACD ) have turned positive, but its Stochastic turned negative from overbought position.
Investors may range trade, as the index turned into bullish territory and is just above the 18 and 40 SMA since 2 Aug. The FKLI contracts (Aug, Sep, Dec 2017 & Mar 2018) turned below par (at a 1.27-point to a 5.27-points discount) against the index on some selling activities.
Due to the US markets' 204.69-points major plunge for 10 Aug, the index may trade with a downward bias today. However, there may be a minor upward phase for the index in the medium-term as most of the indicators have turned positive.