FKLI Daily Commentary for 15th June 2010

FKLI June Futures contract traded 7.5 point higher to close at 1304.5 levels as compare to previous trading session to with a total of 3,263 lots traded in the market. FKLI price settled higher before of trading sessions after long stagnant trading due to overseas regional indices and Dow Jones futures electronic trading was traded higher during trading sessions.
FKLI consolidate within price from 1301 to 1303 region during trading sessions before price manage to break up from range to test 1305 regions. Technically, FKLI seems stands firm above 50% Fibonacci support levels at 1299.5 regions before break above previous resistance levels at 1303 and surge higher during trading sessions. FKLI would anticipate further upside trading provided support levels at 1296 and 1289.5 were not violated in the coming trading sessions. However, FKLI would expect to encounter great selling pressure around resistance levels at 1310 and 1325 region.