FKLI Daily Commentary for 22nd Apr 2010

FKLI April Futures contract was traded 2 points lower as compare to previous trading session to close at 1334 levels with a total of 3,763 lots traded in the market. FKLI traded lower despite opened higher since open for trading as Dow Jones futures electronic trading and regional indices trading fall back due to some profit taking activity.
FKLI failed to penetrate previous resistance trend line in the hour price chart where resistance were anticipate at 1343.5, 78.6% Fibonacci resistances before starts to retrace lower towards 38.2% Fibonacci support levels. Technically, FKLI seem possible to trade higher in the coming trading sessions provided support levels at 1328 and 1322 were not violated in the coming trading sessions while resistance levels were seen at 1344.5 and 1350.50.