FKLI Daily Commentary for 14th July 2010

FKLI July Futures contract surge 10.5 points higher to close at 1339 levels as compare to previous trading session to with a total of 7,358 lots traded in the market. FKLI traded higher in the 2nd trading sessions as regional indices and Dow Jones futures electronic trading were traded higher during trading sessions after found affirmative support levels in the morning sessions.
FKLI break down lower from the symmetric triangle in the hourly price chart to meet support at 1324; 61.8% Fibonacci support levels, in the hourly price chart before surge up higher by end of trading sessions. Technically FKLI seems aggressive in attempt to surge higher to challenge resistance levels at 1342 and 1352.5 regions. However, FKLI crucial support would be seen at 1324 and 1315 regions.