FKLI Daily: Surviving at 1230 levels

Market defended well at the underline support at 1230 levels and fully covered the upside gap left over at 1241.5-1243. This had provided some cushion to the downside move. Hence, market looks may continue to consolidate in near term. Immediate upside resistance is pegged at 1260 followed by 1273.5. While, to the downside, support is lies at 1230 followed by 1200.