FKLI Commentary on 08/04/09

FKLI April futures contract continue to fall 4.5 points lower to close at 913 as compare to previous trading session with total 8261 lots traded in the market. Quiet trading session for FKLI trading despite Dow Jones plunge during overnight trading while regional indices were traded weak.

Technically, FKLI was mainly traded sideways during entire trading session within 915 and 908 regions. We expect FKLI would trade lower in the coming trading session provided resistance levels at 916 and 922 were not violated. Traders were advice to hold short position around the resistance levels while be extra alert on support levels at 903 and 895 regions.