FKLI Commentary on 26/03/09

FKLI March futures contract rebound 8 points higher to close at 884.5 as compare to previous trading session with total 7030 lots traded in the market. FKLI manage to rebound after long consolidation around 876 regions.

Technically, FKLI seems holding well above 873 levels during the trading session. Its possible FKLI might challenge resistance levels at 888 and 899 regions in the coming trading session. Failure to resist FKL price below these resistance levels would indicate buying signal. However, traders were still advice to hold short position in the coming trading session provided support levels at 873 and 866 were violated.