FKLI Weekly: Facing some resistance

Market looks facing some resistance to march higher after hits the fresh high at 1307 levels. Thus, market may due for a consolidation phase in near term. To the upside, immediate resistance is looking at at 1310 followed by 1314-1348 (gap left over on 29/2/2008). To the downside, support is pegged at 1285-1275 followed by 1265-1250.