FKLI Commentary on 09/09/09

FKLI Sep Futures contract surge 13.5 points higher to close at 1206 levels as compare to previous trading session to with a total of 5,800 lots traded in the market. FKLI surge strong after been boosted by regional indices strong closing while Dow Jones electronic trading was traded high during trading sessions.

Technically, FKLI seems penetrate our resistance levels at 1198 regions convincingly while manage to close at 1206. Based on our technical view, our opinion suggests FKLI currently riding on a bull rally provided support levels at 1198 must not be violated during trading sessions. Traders were advice to hold long position in the coming trading session while be cautious around next resistance levels at 1217 and 1222 regions.