FKLI Commentary on 14/01/09

FKLI December futures contract closed 8.5 points lower at 914 as compare to previous trading session with total 4833 lots traded in the market. FKLI was traded sideways toward the downside throughout the trading session as regional indices was trading downwards during the trading session

Technically, FKLI seem breach down from support levels at 921 but still temporary holding well above 910.5 regions. We expect FKLI would trader lower in the coming trading session with support seen at 903 and 880 region. Traders were advice to hold short position in the coming trading session provided resistance levels at 921 and 931 were not violated.