FKLI Daily Commentary for 24th Mar 2010

FKLI Mar Futures contract traded 18 point higher to close at 1312 levels as compare to previous trading session to with a total of 5,689 lots traded in the market. FKLI was opened and traded higher during trading session despite most of the regional indices were traded weak during trading sessions.
FKLI penetrate previous resistance levels at 1299 and surge to meet next nearest resistance levels at 1312.5; 50% Fibonacci resistance levels, after 1307 resistance levels fails to hold against the buying interest. Technically, FKLI seem traded fiercely towards north but ended the sessions at 1312; 178.6% and 50% Fibonacci resistance levels while next nearest resistance level seen at 1326; 78.6% Fibonacci resistance levels. FKLI would remain trading on correction provided resistance levels were not violated during trading session while further confirmation once support levels at 1304.5 and 1291 fails to hold in the coming trading sessions.