FKLI Commentary on 14/04/09

FKLI April futures contract retrace 2 points lower to close at 944 as compare to previous trading session with total 6,016 lots traded in the market. FKLI manage to trade higher during trading session but close lower due to Dow Jones electronic and regional indices trading were traded lower.

Technically, FKLI seems stopped around 138.1% Fibonacci projection at 949 regions. We expect FKLI is around the top side at 956 regions. Traders were advice to hold short position in the coming trading session provided FKLI not capable to breach resistance levels at 956 and 963 regions. Supports were seen at 935 and 928 regions.