FKLI Commentary on 10/04/09

FKLI April futures contract continue to surge 12.5 points higher to close at 925.5 as compare to previous trading session with total 8531 lots traded in the market. FKLI starts to surge up higher since 1st trading session due to our new Prime Minister announces new line up for the government cabinet.

Technically, FKLI seems bottomed around 38.1% Fibonacci retrace support levels at 906 regions in the hourly chart. We expect FKLI would ride on a bull rally in the coming trading session provided support levels at 906 and 895 were not violated. Traders were advice to hold long position in the coming trading session while be extra cautious around resistance levels at 940 and 956 regions.