FKLI Daily Commentary for 27th Apr 2010

FKLI April Futures contract was traded 3 points higher as compare to previous trading session to close at 1343 levels with a total of 5,382 lots traded in the market. FKLI was recover before end of trading sessions from early loss despite regional indices were traded higher during trading session.
FKLI retrace 61.8% Fibonacci support levels at 1338.5 regions and hold well above previous resistance trend line in the hourly price chart. Technically, FKLI seems form multiple pull back to gather strength for upside break up provided support levels at 1336 and 1327.5 were not violated during trading sessions. However, FKLI would expected to anticipate some great selling pressure around resistance levels at 1349 to 1350.5 regions while next nearest resistance was seen at 1367 regions.