FKLI Daily Commentary for 30th Apr 2010

FKLI Apr Futures contract rose 5.5 points higher to close at 1333.5 levels as compare to previous trading session to with a total of 3,130 lots traded in the market. FKLI was traded within tight range as Nikkei closed to trading while Hang Seng were traded lower during trading sessions.
FKLI seems consolidate within range from 1334.5 and 1331.5 throughout entire trading sessions where 1331.5 is 50% Fibonacci support levels in the hourly price chart. Technically, FKLI seems congesting for wave 3 upsurge provided short term support levels at 1331.5 and 1328 were not violated in the coming trading sessions. However, it’s crucial for FKLI traded price to penetrate resistance level at 1340 and 1346 in order to further affirm on the recently upsurge.