FKLI Commentary on 26/02/09

FKLI February futures contract rebound 6 points higher to close at 893.5 as compare to previous trading session with total 7610 lots traded in the market. FKLI was traded sideways despite wild movement from regional and Dow Jones futures electronic trading.

Technically, FKLI seem traded sideways within 888 and 894 ranges in the hourly chart. FKLI seems break up from sideways trading range and forms a Doji in the daily chart. We expect FKLI would trade lower in the coming trading session after 3 – consecutive rebound trading session. Traders were advice continue to hold short position in the coming trading session provided resistance levels at 897 and 914 were not violated. Supports were seen at 888 and 873.5 levels.