FKLI Commentary on 22/10/09

FKLI Oct Futures contract fall 11 points lower to close at 1260 levels as compare to previous trading session to with a total of 4,993 lots traded in the market. FKLI was traded lower during trading sessions as Dow Jones electronic trading were traded lower during trading sessions. Regional indices were traded firm without much sign of selling pressure.

Technically, FKLI price manage to rebound 61.8% Fibonacci resistance levels at 1270.5 regions before trading lower and breach previous support levels at 1262 regions. Based on our technical view, our opinion suggests FKLI would have some buying support at 1258 and 1254 regions; both were 50% and 61.8% Fibonacci support levels. Traders were advice to only hold long position provided support levels were not violated during trading sessions while resistance levels were seen at 1269 and 1274 regions.