FKLI Commentary on 27/03/09

FKLI March futures contract rebound mildly 2.5 points higher to close at 887 as compare to previous trading session with total 11869 lots traded in the market. FKLI was mainly traded sideways towards the upside.

Technically, FKLI seems fails to breach resistance levels at 892 after several attempt to maintain above 892 regions. Based on FKLI hourly chart, we expect FKLI would trade lower in the coming trading session provided resistance levels at 892 and 900 were not violated. Traders were advice to hold short position in the coming trading session while be extra alert around support levels at 873 and 866 regions.