FKLI Commentary on 30/06/09

FKLI futures June contract rise marginally 1 point higher to close at 1080 as compare to previous trading session with total 6,358 lots traded in the market. FKLI seems traded sideways throughout entire trading session as regional indices were traded mix direction as market awaiting solid report while worry global economy.

Technically, surprisingly, FKLI manage to breach new high at 1083 levels and hence traded sideways throughout the entire trading session within range from 1075 to 1080 regions. Based on our technical analyst, our opinion suggest that FKLI would traded lower in the coming trading session provided resistance levels at 1081.5 and 1094 were not violated. Traders were advice to hold short position in the coming trading session while be alert around support levels at 1074 and 1065 regions.