FKLI Daily Commentary for 27th May 2010

FKLI May Futures contract traded 12 points higher as compare to previous trading session to close at 1253 levels with a total of 12,211 lots traded in the market. FKLI was opened higher but trading lower during trading sessions as regional indices were traded weak upon closing despite Dow Jones futures electronic trading were traded higher.
FKLI seems rebound at 50% Fibonacci resistance levels at 1262 regions before consolidate trading lower to find support during trading sessions. Technically, FKLI would seems continue to trade lower in the coming trading sessions provided resistance levels at 1262 and 1267; both 50% and 61.8% Fibonacci resistance levels. However, FKLI would anticipate certain of buying interest around support levels at 1238 and 1230 regions.