FKLI Commentary on 280909

FKLI Sep Futures contract traded 2.5 higher to close at 1221.5 levels as compare to previous trading session to with a total of 8,091 lots traded in the market. FKLI was rebound higher during trading hour as regional indices were manage to close higher despite were traded lower during opening of trading sessions.

Technically, FKLI is highly possible for undergoing trend reversal as manage to penetrate hourly support levels at 1216 regions during trading session while closing at 50% rebound levels at 1222 regions. Based on our technical view, our opinion suggests FKLI would trade lower in the coming trading session provided resistance levels at 1227.5 and 1233 were not violated during trading hour. Traders were advice to hold short position in the coming trading session while be cautious around support levels at 1218 and 1210 regions.