FKLI Commentary on 05/03/09

FKLI February futures contract rebound 9 higher to close at 872 as compare to previous trading session with total 5511 lots traded in the market. FKLI was traded higher during the trading session tracking closely with regional indices and Dow Jones futures electronic trading especially Chine Stock Exchange and Hang Seng Stock exchange.

Technically, FKLI seems well supported above support levels at 860 region; 78.6% Fibonacci retrace figures. We expect FKLI would top around resistance levels at 876 and 888 regions. Traders were advice to do hold short position around the resistance levels while be alert around support levels at 865 and 858 region as downtrend is underway.