FKLI Daily Commentary for 30th Mar 2010

FKLI Mar Futures contract traded 3.5 point higher to close at 1324.5 levels as compare to previous trading session to with a total of 10,335 lots traded in the market. FKLI was mainly traded sideways during entire trading sessions despite regional indices and Dow Jones futures electronic trading were traded firm during trading sessions.
FKLI tested resistance levels at 1326.5 regions; 78.6% Fibonacci resistance levels. Technically, FKLI has yet to affirm to trade south provided support levels at 1319 and 1310.5 were violated in the coming trading sessions in order to confirm 1326 was seen at wave B were wave C was expected to complete objective price at 1265, 123.6% Fibonacci support levels. However, FKLI must not trade above resistance levels at 1328 and 1337 in order for correction phase to take in place.