FKLI Commentary on 240809

FKLI Aug Futures contract fall 2 points lower to close at 1159.5 levels as compare to previous trading session to with a total of 4,462 lots traded in the market. FKLI was seen traded sideways as regional indices seen rebound on the 2nd trading session despite FKLI was plunge in the earlier trading sessions.

Technically, FKLI seem temporary supported around 78.6% Fibonacci retrace levels at 1152 regions. Based on our technical analyst, our opinion suggests FKLI would rebound towards resistance levels at 50% and 78.6% Fibonacci rebound levels at 1169 and 1180.5 regions. Traders were advice to hold short position provided resistance levels were not violated while be cautious around support levels at 1150 and 1140 regions.