FKLI Commentary on 15/09/09

FKLI Sep Futures contract fall 5.5 points lower to close at 1205.5 levels as compare to previous trading session to with a total of 3,854 lots traded in the market. FKLI was mainly traded sideways during trading session after opened lower in the 1st trading session as regional indices lead by Nikkei Indices plunge along with Dow Jones futures electronic trading.

Technically, FKLI were traded sideways throughout entire trading session ranging from 1205 to 1208 regions. It’s a tight trading days for the traders. Based on our technical view, our opinion suggests strong buying interest around 1197 to 1200 regions while resistance levels at 1208 and 1215 seen as great selling pressure. Traders were advice to trade cautiously as FKLI might be trading within range in the coming trading session. Overall, FKLI still haven’t any signal of reversal provided support levels were violated.