FKLI Daily Commentary for 22nd July 2010

FKLI July Futures contract traded 7.5 points higher to close at 1344.5 levels as compare to previous trading session to with a total of 4,679 lots traded in the market. FKLI was traded wild yesterday as it opened higher before plunge lower despite most of the regional indices were traded higher but manage to recover more profit before end of trading sessions.
FKLI challenge next resistance levels at 1347.5; 78.6% and 100% Fibonacci resistance levels, before plunge lower towards support levels at 1340 regions and rebound 78.6% Fibonacci figure at 1345.5 before end of trading sessions. Technically, FKLI seems possible to temporary topped provided resistance levels at 1352.5 and 1360 were not violated in the coming trading sessions while support levels were seen at 1337 and 1331 regions.