FKLI Commentary on 13/08/09

FKLI Aug Futures contract closed 10.5 points lower at 1175 as compare to previous trading session with a total of 5,190 lots traded in the market. FKLI was traded lower partly due to regional sell down especially for Hang Seng index and ShangHai index.

Technically, FKLI seems break down from the supporting trend line in the hourly chart after previous support levels at 1178 were violated. Based on our technical analyst, our opinion suggest FKLI would trade lower in the coming trading session after long consolidation within 1188 to 1178 range. Traders were advice to hold short position in the coming trading session while be cautious around resistance levels at 1183 and 1194 regions. Supports were seen at 1170 and 1163 regions.