FKLI Daily Commentary for 9th Apr 2010

FKLI Apr Futures contract traded 11 point lower to close at 1332 levels as compare to previous trading session to with a total of 5,009 lots traded in the market. FKLI traded lower during trading sessions as regional indices and Dow Jones overnight, add electronic trading were traded weak during trading sessions.
FKLI penetrate trend line support at 1340 upon open for trading and continue to trade lower during trading sessions to reach support levels at 1329.5 region; 61.8% and 178.6% Fibonacci support levels. Technically, FKLI seems temporary supported provided support levels at 1329 and 1313.5 were not violated in the coming trading sessions in order for uptrend to resume affirm. However, FKLI might challenge resistance levels at 1340 and 1353.5 regions in the coming trading sessions.