FKLI Commentary on 14/08/09

FKLI Aug Futures contract surge 8 points to close at 1183 levels as compare to previous trading session to with a total of 4,604 lots traded in the market. FKLI was traded strong as Dow Jones and regional indices were boosted after news release by FED during overnight trading.

Technically, FKLI mainly seen traded sideways throughout the trading session while lack of traded volume indicates sideways market still intact. Based on our technical analyst, our opinion suggests FKLI still looking at the downside provided resistance levels at 1187 and 1194 were not violated. Traders were advice to hold short position while being cautious around support levels at 1178 and 1170 regions.