Thursday, August 20, 2009

FKLI Commentary on 21/08/09


FKLI Aug Futures contract rebound 10.5 points rebound to close at 1161.5 levels as compare to previous trading session to with a total of 5,507 lots traded in the market. FKLI rebound during trading session as regional indices recovered strong after previous sharp fall.

Technically, FKLI topped again at 1166 levels and manage to break down from lower trend line around 1163 levels. Based on our technical analyst, our opinions suggestion FKLI still uncertain would continue to rebound in the coming trading session but likely trade lower provided resistance levels at 1169 and 1174 were not violated. However, traders were still advice to hold short position in the coming trading session while be cautious around support levels at 1157 and 1147 regions.

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