FKLI Commentary on 24/06/09

FKLI futures June contract rebound 3 points higher to close at 1047 as compare to previous trading session with total 7,317 lots traded in the market. FKLI rebound strong after regional indices and Dow Jones electronic trading surge up during the trading session.

Technically, FKLI seems temporary supported around 23.6% Fibonacci retrace level at 1031 regions. Based on our technical analyst, we suggest FKLI might be bottomed around 1027 and 993 support regions. Traders were advice to hold long position provided support level were not violated. Violation of support level shall indicate further downtrend ahead. Resistance levels were seen at 1048 and 1058 region.