FKLI Daily Commentary for 19th Apr 2010

FKLI Apr Futures contract traded 5 points lower to close at 1336 levels as compare to previous trading session to with a total of 4,364 lots traded in the market. FKLI traded lower during trading sessions after opened higher as regional indices and Dow Jones futures electronic trading were traded lower during trading sessions.
FKLI plunge lower after rebound 78.6% Fibonacci resistance levels at 1344.5 regions before complete at 123.6% Fibonacci support levels at 1330.5 regions. Technically, FKLI seems almost complete wave C correction wave with assumption resistance levels at 1339 and 1344.5; both are 61.8% and 100% Fibonacci resistance levels, were not violated during trading sessions. However, FKLI seems supported around 1327.5 and 1313.5 regions, both were 38.2% and 61.8% Fibonacci support level, as FKLI still view as riding on long term bull trend.