FKLI Daily Commentary for 3rd May 2010

FKLI Apr Futures contract traded 4 points lower to close at 1343.5 levels as compare to previous trading session to with a total of 3,790 lots traded in the market. FKLI was traded within tight range despite Dow Jones and regional indices were traded lower during trading sessions.
FKLI seems consolidate within range from 1343 and 1346 throughout entire trading sessions despite there was a false break towards 1348 levels during early of trading sessions. Technically, FKLI seems temporary topped around 1346 and 1350.5 resistance levels; 123.6% and 138.2% Fibonacci resistance levels. However, FKLI would assume still remain uptrend provided support levels at 1340 and 1328 were not violated in the coming trading sessions.