FKLI Commentary on 25/02/09

FKLI February futures contract rebound marginally 3.5 points higher to close 887.5 as compare to previous trading session with total 12317 lots traded in the market. FKLI rebound firm despite most of the regional indices were traded weak.

Technically, FKLI seems temporary rebound 78.6% Fibonacci figure at 890 regions; below the hourly trend line. We expect FKLI would trade lower in the coming trading session provided if resistance levels at 894 and 899 were not violated. Traders were advice to hold short position in the coming trading session while be cautious around support levels at 873.5 and 867.