FKLI Commentary on 25/08/09

FKLI Aug Futures contract surge 20 points higher to close at 1179.5 levels as compare to previous trading session to with a total of 8,195 lots traded in the market. FKLI rebound higher as regional indices and Dow Jones overnight plus electronic trading were traded high during trading session.

Technically, FKLI manage to rebound 78.6% Fibonacci retrace levels at 1180.5 with 178.6% Fibonacci projection levels at1182 regions. Based on our technical view, our opinion suggest FKLI would plunge in the coming trading session provided resistance levels at 1180.5 and 1190 must not be violated. Traders were advice to hold short position in the coming trading session while support levels were seen at 1174.5 and 1169.