FKLI Commentary on 27/08/09

FKLI Aug Futures contract fall marginally 2 points lower to close at 1169 levels as compare to previous trading session to with a total of 8,362 lots traded in the market. FKLI were mainly traded sideways despite regional indices and Dow Jones electronic trading were trading near the high side during the trading sessions.

Technically, FKLI seems traded above 80 – day and 100 day exponential moving average on 1168 levels in hourly and 15 minute price chart. Based on our technical interpretation, our opinions suggest FKLI were considered bearish unless resistance levels at 1176 and 1181were not violated. Traders were advice to hold short position while be cautious around supports at 1167 and 1160.5 level.