FKLI Commentary on 25/03/09

FKLI March futures contract fall 6.5 points lower to close at 876.5 as compare to previous trading session with total 8367 lots traded in the market. FKLI plunge despite opened high around 890 regions due to Dow Jones overnight strong closing after favorable news were released during the trading session.

Technically, FKLI plunge after forms a Doji in the hourly price chart. We still expect FKLI would trade lower in the coming trading session while resistance levels still remain at 886 and 899 regions despite of short false break period during the morning trading session. Traders were advice to hold short position in the coming trading session by being extra alert around support levels at 874 and 866 regions.