FKLI Daily Commentary for 5th Apr 2010

FKLI April Futures contract was traded 4.5 point higher as compare to previous trading session to close at 1342.5 levels with a total of 3,389 lots traded in the market. FKLI traded higher after long consolidate as regional indices were traded higher during trading sessions.
FKLI traded higher since break up from consolidation range from 1338 and 1335 regions. Technically, FKLI seem manage to penetrate previous high level at 1337 regions and ended trading sessions at 1242.5, 123.6% and 178.6% Fibonacci resistance levels. However, FKLI would encounter short term retrace provided support levels at 1335.5 and 1327 were violated in the coming trading sessions. Resistance levels were seen at 1349 and1353.5 regions.