FKLI Commentary on 09/01/09

FKLI December contract close marginal 3 points lower at 918.5 as compare with previous trading session with a total of 6189 lots traded in the market. FKLI was open lower during trading session but mainly traded sideways throughout the entire trading session.

Technically, FKLI seems strong holding on 61.8% Fibonacci projection figures at 912 regions and manage to close on higher side on closing. We expect FKLI would trade lower in the coming trading session with resistance seen at 930 and 935 regions. Traders were advice to hold short position in the coming trading session provided resistances were not violated. Supports were seen at 900 and 865 region.