FKLI Commentary on 19/1/09

FKLI December futures contract closed 4 points higher at 894 as compare to previous trading session with total 4783 lots traded in the market. FKLI was mainly traded sideways during the trading session.

Technically, FKLI seems traded within 880 to 900 ranges after 2 consecutive trading days. We expect FKLI would trade higher to cover gap around 907 regions before starts to trading lower again. Traders were
advice to hold short position in the coming trading session while being cautious around the resistance levels at 920 and 932 regions. Supports were seen at 880 and 865 region.