FKLI Daily Commentary for 2nd Apr 2010

FKLI Mar Futures contract traded 11.5 point higher to close at 1338 levels as compare to previous trading session to with a total of 6,547 lots traded in the market. FKLI was traded sideways during entire trading sessions after traded higher in the earlier sessions as regional indices and Dow Jones electronic trading were traded higher during trading sessions.
FKLI tested previous resistance trend in the daily price chart at 1338 regions after manage to penetrate above previous resistance levels at 1326.5 regions. Technically, FKLI would indicates bullish sentiment after manage mark new high at 1338.5 levels; 100% and 161.8% Fibonacci resistance levels. FKLI would remain bullish provided support levels at 1327 and 1314 regions; both are 23.6% and 50% Fibonacci support levels, were not violated in the coming trading sessions. However, resistances levels were anticipated around 1347 and 1359 regions.