FKLI Commentary on 10/03/09

FKLI March futures contract fall 5 lower to close at 863 as compare to previous trading session with total 6080 lots traded in the market. FKLI was traded throughout the entire trading session as confusing news such as stimulus package is contradicting with regional indices performance.
 
Technically, FKLI seems trading sideways within range from 860 to 863.5 regions during the trading session. FKLI seems temporary supported above 23.6% projection levels at 860 regions. However, we expect FKLI would trade lower in the coming trading session provided resistances levels at 899 and 905 were not violated. Traders were advice to hold short position in the coming trading session while support seen at 858 and 845 regions.