FKLI Daily Commentary for 6th Apr 2010

FKLI Apr Futures contract traded 3.5 point higher to close at 1346 levels as compare to previous trading session to with a total of 2,502 lots traded in the market. FKLI was traded sideways before end of trading sessions despite most of the regional indices were traded higher during trading sessions.
FKLI manage to penetrate previous resistance before reached 138.1% Fibonacci resistance level at 1348 regions. Technically, FKLI consolidate within range from 1345.5 and 1348.5 region before manage to break down lower to 1343.5; 38.1% Fibonacci support levels. FKLI yet appear any reversal signal provided support levels at 1340 and 1335.5 were not violated in the coming trading sessions. However, resistance levels were seen at 1349 and 1353.5 regions.