FKLI Daily Commentary for 26th March 2010

FKLI March Futures contract was traded 4.5 point higher as compare to previous trading session to close at 1317.5 levels with a total of 4,465 lots traded in the market. FKLI was traded sideways during entire trading session as regional indices were traded mix during trading hours.
FKLI was traded within tight range from 1313 to 1317 during entire trading session. Technically, FKLI still attempt to challenge resistance levels at 1318 and 1326; 61.8% and 78.6% Fibonacci resistance levels in order to reverse towards bull trend. However, in the event if FKLI manage to surge higher, support levels at 1304 and 1300 must not be penetrate in order for bull market to resume.