FKLI Commentary on 12/11/09

FKLI Nov Futures contract traded 3.5 point higher to close at 1275.5 levels as compare to previous trading session to with a total of 4,331 lots traded in the market. FKLI traded higher as regional indices were traded firm during trading sessions while Dow Jones futures electronic trading fly before FKLI ended the trading session for the day.

Technically, FKLI support levels at 1270 regions were tested the 2nd time after manage to open higher at 1278 regions while high at 1286 regions were traded due spread trading. Based on our technical view, FKLI should not be considered break high as it fails to close higher. However, our opinion suggests FKLI would trade higher in the coming trading sessions provided support levels at 1270 and 1262 were not violated. Traders were advice to hold long position while be cautious around resistance levels at 1282 and 1300 psychology levels.