FKLI Commentary on 29/08/09

FKLI Aug Futures contract rose 4.5 points higher to close at 1173.5 levels as compare to previous trading session to with a total of 5,279 lots traded in the market. FKLI was traded sideways despite most of the regional indices were traded weak during trading session.

Technically, FKLI supported above 1167 levels and 80 – day, 100 – day exponential moving average in the hourly and 15 minute price chart. Based on our technical view, our opinion suggests FKLI is possible to rebound where resistances levels were seen at 1176 and 1182 regions. Traders were advice to hold short position provided resistance levels were not violated while be alert around supports at 1167 and 1160.5 levels.