FKLI Commentary on 27/07/09

FKLI futures July contract rose 2.5 points higher to close at 1157 as compare to previous trading session with total 6,558 lots traded in the market. FKLI close slightly higher after some weekend profit taking activities take place despite Dow Jones and regional equity indices were traded firm during trading session.

Technically, FKLI again tested the upper resistance trend line in 15min price chart around 1164 regions. Based on our technical analyst, our opinion still suggests FKLI would likely to trade lower in the coming trading session with resistance seen at 1160 and 1166. Traders were suggest to hold short position provided resistance level must not be violated during trading session while be alert around support levels seen at 1151 and 1145 regions.