FKLI Commentary on 02/10/09

FKLI Sep Futures contract rebound 3 points higher to settle at 1209 levels as compare to previous trading session to with a total of 3,628 lots traded in the market. FKLI was traded higher during trading sessions despite most of the regional indices were traded lower but falls slightly due to profit taking activities.

Technically, FKLI manage to rebound 38.1% Fibonacci resistance levels at 1213 regions. Based on our technical view, our opinion suggests FKLI would trade lower in coming trading sessions provided resistance levels at 1213 and 1220 were not violated during trading sessions. Traders were advice to hold short position in the coming trading sessions while be cautious around support levels at 1206 and 1200 regions.