FKLI Commentary on 07/01/09

FKLI December futures contract closed unchanged as compare previous trading session to close at 928 with total of 9655 lots traded in the market. FKLI was traded volatile during the trading session as not much fresh market leads to move the market.

Technically, FKLI manage to reach 250% Fibonacci projection at 931 levels before starts to retrace and rested on 23.6% Fibonacci retracement levels at 917 regions. We expect FKLI would traded higher in the coming trading session while resistance seen at 944 and 957 levels. Traders were advice to hold long position in the coming trading session while support levels were seen at 923 and 917 regions.