FKLI Commentary on 06/03/09

FKLI March futures contract fall 4 lower to close at 868 as compare to previous trading session with total 7336 lots traded in the market. FKLI was traded lower during the trading day despite Dow Jones overnight strong closing.

Technically, FKLI seems temporary top around resistance levels at 872 regions and downtrend channel seems form in the hourly price chart. We expect FKLI would trade lower in the coming trading session provided resistance levels at 900 and 914 were not violated. Traders were advice to hold short position in the coming trading session while be cautious around support levels at 865 and 858 region.