FKLI Commentary on 051009

FKLI Oct Futures contract fall 5 points lower to settle at 1204 levels as compare to previous trading session to with a total of 3,509 lots traded in the market. FKLI was manage to recover from losing ground despite most of the regional indices were plunge tremendously during trading sessions take place.

Technically, FKLI manage to rebound 50% of Fibonacci resistance levels at 1205.5 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 1200 and 1191 regions.