FKLI Commentary on 08/06/09

FKLI futures June contract surge 8.5 point higher to close at 1076.5 as compare to previous trading session with total 5,499 lots traded in the market. FKLI continue to surge up mainly due to Dow Jones electronic trading and regional indices continue search new high during trading session.

Technically, FKLI searched for new high during the trading session after supported around 1050 support regions. Based on our technical knowledge, our opinion still suggest that FKLI would trade lower in the coming trading session provided resistance level around 1081 and 1093 were not violated. Traders were advice to hold short position in the coming trading session while support levels were seen at 1050 and 1033.5 regions.