KLCI ends down 0.3% in modest volume to settle at psychological support of 1200.01 from an intraday peak of 1214.15. Foreign buying interest in blue chips, property and construction stocks provided the initial run-up in the broader market but profit-taking into strength by retail players reversed most of these gains. Expects KLCI to trade within 1190 to 1211 over next few days as market consolidates and builds new base with bargain hunting activities helping to limit downside.
KLCI Technical Readings
For 13/3/ 2007 the index closed at 1,200.0100.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 1,248.53.
The projected lower bound is: 1,156.37.
MARCH SPOTMNTH
For 13/3/2007 the closing price was 1,161.0000.
Overall, the bias in prices is: Sideways.
The projected upper bound is: 1,225.27.
The projected lower bound is: 1,100.07.
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