FKLI Daily Commentary for 10th March 2010

FKLI March Futures contract was traded 2.5 points lower as compare to previous trading session to close at 1321 levels with a total of 5,146 lots traded in the market. FKLI was traded mildly lower as Dow Jones were traded weak during overnight trading while regional indices were traded within tight range.
FKLI look for lower support at 1316 regions after rebound 61.8% Fibonacci resistance levels at 1325.5 regions before market start to consolidate within range from 1217 to 1221 regions. Technically, FKLI would seen trading on correction wave count provided resistance levels at 1323.5 and 1340 regions were not violated in the coming trading sessions while support level were seen at 1316 and 1302 regions.