FKLI Daily: 900 mark failed to hold

Market violated the physiological support at 900 mark had again dampened the immediate technical outlook. Bull looks failed to defend and market may move sideways to lower in near term. Thus, we are now looking for the downside support at 879.5-876 followed by 866-862.5. For upside, resistance is at 899.5-907 (gap left over on 15/1/2009).