Thursday, April 22, 2010

FKLI Daily Commentary for 23rd Apr 2010

FKLI Apr Futures contract rose 8 points higher to close at 1342 levels as compare to previous trading session to with a total of 4,802 lots traded in the market. FKLI traded higher despite was opened lower for trading while most of the regional indices and Dow Jones futures electronic trading were traded lower during trading sessions.
FKLI support above 61.8% Fibonacci support levels at 1328 regions and manage to surge higher in the latter trading sessions towards resistance trend line at 1340 regions. Technically, FKLI seems affirm to complete correction wave 2 at 1328 regions provided resistance levels at 1344.5 and 1350.5 were violated in the coming trading sessions. However, support levels at 1333 and 1327.5; both are 61.8% and 100% Fibonacci support levels, must not be violated in the coming trading sessions.