FKLI Commentary on 05/01/09

FKLI December contract surge 18 points higher at 897 as compare with previous trading session with a total of 4924 lots traded in the market. FKLI opened higher and continue it’s momentum to trade higher throughout entire trading session.

Technically, FKLI seems trading strong on the upside in the hourly chart. However, FKLI seems completed 61.8% at 901 levels while RSI and Stochastic shows FKLI was traded on the top side. We expect FKLI would have some profit taking activities in the coming trading session with support seen at 888 and 875 regions. Traders were advice to take profit around the resistance levels at 910 and 927 in the coming trading session and take long position around the support region.