FKLI Commentary on 25/06/09

FKLI futures June contract surge 10.5 points higher to close at 1057.5 as compare to previous trading session with total 7,022 lots traded in the market. FKLI rebound sharp despite lack of encourage from regional indices and Dow Jones electronic trading.

Technically, FKLI seems topped around 50% rebound levels at 1061.5 levels while seems resistance by 80 – day and 100 – day exponential moving in the hourly chart. Based on our technical interpretation, we suggest FKLI would trade lower in the coming trading session provided resistance levels at 1061.5 and 1071 were not violated. Traders were advice to hold short position in the coming trading session while be alert support region near 1054 and 1046 regions.