FKLI Commentary on 26/06/09

FKLI futures June contract surge 18.5 points higher to close at 1076 as compare to previous trading session with total 9,473 lots traded in the market. FKLI surge up due to mid year window dressing effect despite regional indices were not traded strong during trading session.

Technically, FKLI continue to surge after manage to breach previous resistance levels at 1065 and 1070 regions. Based on our technical view, our opinion suggests 1079 and 1094 was our final resistance for correction to remain intact, violation of these resistance levels shall indicates uptrend to take place. Traders were advice to hold short position in the coming trading session provided resistance levels were not violated while support levels were seen at 1066 and 1057 regions.