FKLI Commentary on 13/10/09

FKLI Oct Futures contract traded marginally 0.5 points lower at 1237.5 levels as compare to previous trading session to with a total of 2,638 lots traded in the market. FKLI was traded lower during trading sessions due to Hang Seng Equity indices were traded lower despite manage to open high during morning sessions as Dow Jones was settle firm during last week trading.

Technically, FKLI retrace after reach upper resistance trend line around 1244 regions that formed in the daily chart. Based on our technical analyst view, our opinion suggests FKLI would likely to trade lower in the coming trading session provided resistance levels at 1240 and 1248 were not violated duding trading session. Traders were advice to hold short position in the coming trading session while be cautious around support levels at 1233 and 1225.