FKLI Daily Commentary for 15th Apr 2010

FKLI April Futures contract was traded 8 point higher as compare to previous trading session to close at 1342 levels with a total of 5,043 lots traded in the market. FKLI was traded sideways during entire trading session as regional indices were traded mix while Dow Jones Futures electronic trading were trading higher.
FKLI tested resistance levels at 1346, 78.6% Fibonacci resistance levels before retrace lower to meet support levels at 1340, 50% Fibonacci support levels in the hourly price chart. Technically, FKLI would further affirm bullish provided resistance levels at 1346 and 1350.5 were violated in the coming trading sessions. However, FKLI were still yet to be bearish provided support levels at 1336 and 1329 failed to hold FKLI traded price above support levels.