FKLI Commentary on 01/04/09

FKLI March futures contract rebound 4 points higher to close at 871 as compare to previous trading session with total 3595 lots traded in the market. FKLI mainly traded sideways during entire trading session as market need fresh leads to lead FKLI towards certain direction.

Technically, FKLI seems manage to rebound on 38.1% Fibonacci figure at 873 region while next resistance levels seen at 876 regions. We expect FKLI would trade lower in the coming trading session provided resistance levels at 888 and 899 were not violated. Traders were advice to hold short position in the coming trading session while always alert on support levels at 866 and 850