FKLI Commentary on 03/07/09

FKLI futures July contract fall 12.5 point lower to close at 1070.5 as compare to previous trading session with total 7,086 lots traded in the market. FKLI was traded lower as regional indices sudden plunge despite were traded profit during earlier session.

Technically, FKLI seems forms a double top formation in the July price chart where neckline seen at 1068 levels. Based on our technical knowledge, our opinion suggest us that strong sell signal occur if support levels at 1068 and 1052 were violated. Traders were suggest to hold short position in the coming trading session while be cautious around resistance level 1077 and 1086 regions.