FKLI Commentary on 24/09/09

FKLI Sep Futures contract closed unchanged at 1221.5 levels as compare to previous trading session to with a total of 4,193 lots traded in the market. FKLI was traded lower in the last trading hours after long consolidation in the morning session after lack of regional participation during trading session as Nikkei were closed for trading.

Technically, FKLI seems break down from the descending triangle in the 15 min price chart where previous support seen at 1225 levels while resistance levels were seen at 1230 regions. Based on our technical view, our opinion suggests FKLI would still remain uptrend provided previous low at 1216 and 1202 were not violated in the coming trading sessions. Traders were advice to hold long cautiously to ensure support levels were not violated while be alert around resistance levels at 1233 and 1246 regions.