FKLI Commentary on 06/04/09

FKLI April futures contract retrace 3 points lower to close at 910 as compare to previous trading session with total 6611 lots traded in the market. FKLI was mainly traded sideways during a trading session as regional indices and Dow Jones futures electronic trading shows some profit taking activities.

Technically, FKLI seems consolidate and forms a symmetric triangle in the 15 min chart after bull rally took on the previous trading session. We expect FKLI would trade higher in the coming trading session provided FKLI price manage to hold above resistance level at 914 and 920 regions. Traders were advice to hold long position in the coming trading session provided support levels at 894 and 865 were not violated.