FKLI Daily: Losing ground

Market is losing ground after violated the immediate support at 1289 levels. A long black candle printed had dampened the immediate daily technical outlook to bias downside potential. As for now, we look at the upside resistance at 1295 to 1300. While, downside support is pegged at 1274-1272 (gap left over on 4/1/2010) followed by 1265-1250.