FKLI Commentary on 23/01/09

FKLI December futures contract close marginally 1 points lower at 872 as compare to previous trading session with total 4812 lots traded in the market. FKLI was traded lower during the 2nd trading session as Dow Jones futures electronic trading sudden drops.

Technically, FKLI seems temporary support above the support trend line at 870 regions in the hourly chart. We expect FKLI would trade higher in the coming trading session provided if the trend line was not violated. However, we still think FKLI would have strong support at 861 and 870 levels. Traders were advice to hold long position in the coming trading session while be cautious around the resistance levels at 880 and 892 regions.