FCPO Daily: 1800 mark try hard to defend

Market again ended in negative territory yet 1800 mark was tried hard to defend. Chart wise market momentum turning weaker mode. Thus, market may move sideways to lower in near term. For now, we continue to look for downside support at 1800-1797 followed by 1738-1723. Upside resistance is at 1844-1856 (gap left over on 15/1/2009) followed by 1900.