Saturday, October 10, 2009

FKLI Commentary on 12/10/09


FKLI Oct Futures contract rose another 4 points higher at 1238 levels as compare to previous trading session to with a total of 2,707 lots traded in the market. FKLI was mostly consolidate during trading sessions due reaction on regional equity performance as Nikkei exchange was manage to close highest while Hang Seng indices were traded sideways.

Technically, FKLI was mainly traded sideways during trading session despite was traded on the high side throughout the entire trading sessions. Based on our technical interpretation, our opinion suggests technically would trade higher in the coming trading sessions provided short term support levels at 1230 and 1223 regions were not violated during trading sessions. Traders were advice to long position in the coming trading sessions provided support levels must not be penetrated. Next resistance levels were expected at 1248 and 1255 regions.

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