FKLI Commentary on 08/07/09

FKLI futures July contract rise 4 point higher to close at 1061 as compare to previous trading session with total 4,844 lots traded in the market. FKLI was mainly traded sideways as regional indices and Dow Jones electronic trading were traded mix during trading session.

Technically, FKLI seem formed at symmetric triangle in the 15 min price chart where support seen at 1059 and 1055 regions. Based on our technical knowledge, our opinion suggest FKLI would trade lower in the coming trading session provided resistance levels at 1068 and 1079. Traders were advice to hold short position in the coming trading session while be cautious around projected figure at 1052, 1030 levels.