FKLI Daily Commentary for 26th May 2010

FKLI May Futures contract plunge 31 points lower as compare to previous trading session to close at 1241 levels with a total of 14,981 lots traded in the market. FKLI plunge lower as regional indices and Dow Jones futures electronic trading were traded weak due to fear of the implications on the Europe debt issue.
FKLI seems continue to plunge lower manage to penetrate previous support levels at 1263 and 1250 regions. Technically, FKLI wound have great buying interest around support levels at 1338 and 1330 regions in the hour price chart. However, FKLI must not trade above 1252 and 1264 resistance levels in order to remain bearish sentiment.