FKLI Daily Commentary for 29th March 2010

FKLI March Futures contract was traded 3.5 point higher as compare to previous trading session to close at 1321 levels with a total of 7,334 lots traded in the market. FKLI was traded higher during trading sessions as regional indices were traded higher during trading sessions.
FKLI penetrate resistance levels at 1318 and continue to search for higher resistance levels. Technically, FKLI seems intended to reach higher resistance levels at 1326 levels; 78.6% Fibonacci resistance levels in the coming trading sessions. Resistance levels at 1326 and 1337 seen crucial to affirm FKLI to remain correction phase. However, short term support seen at 1317 and 1310.5 regions. Failure to FKLI trading price above support levels shall indicates further trading towards south.