FKLI Daily: Sideways to bias upside potential

A long upper shadow candle printed as prices touch and go at the intra-day high at 1288 levels. Market momentum has improved a little following a sharp rebound. Thus, market may move sideways bias to little upside potential in near term. To the upside, resistance is looking at 1288. Downside support is pegged at 1258.5-1253.5 levels (gap left over on 22/2/2010).