FKLI Commentary on 17/12/09

FKLI Dec Futures contract traded marginally 1.5 point higher to close at 1267 levels
as compare to previous trading session to with a total of 2,271 lots traded in
the market. FKLI was traded sideways as regional indices were traded mix while Dow
Jones electronic trading were traded firm.

FKLI seems holding well above short term support at 1264; 38.1% Fibonacci support levels while minor inverted head and shoulder where neck line seen at 1267 regions. Technically, FKLI manage to penetrate resistance trend line in the hourly and daily chart; FKLI seems manage to break up convincingly from a falling wedge formation in the hourly and daily chart where support seen at 1260.5 and 1251.5 regions. Resistance levels were still expected around 1270 and 1281.5 regions.