FKLI Commentary on 21/04/09

FKLI April futures contract rebound another 7.5 points higher to close at 965 as compare to previous trading session with total 7,188 lots traded in the market. FKLI traded higher in the 2nd trading session as regional indices close more firm compare before market closing.

Technically, FKLI resistance levels at 969 was tested during the trading session but seems fails to breach through. We expect FKLI would lower in the coming trading session provided resistance levels at 969 and 974 were not violated. Traders were advice to hold short position in the coming trading session while be alert that supports were seen at 960 and 950 regions.