FKLI Daily Commentary for 21st July 2010

FKLI July Futures contract traded 3 points lower to close at 1337 levels as compare to previous trading session to with a total of 4,733 lots traded in the market. FKLI fall lower after manage to challenge higher territory in the early trading sessions due to firm regional indices trading.
FKLI tested resistance levels at 1344.5; 78.6% Fibonacci resistance levels, before traded lower to find support at 1337, 61.8% Fibonacci support levels in the hourly price chart. Technically, FKLI was expected to have 1 more thrust trading higher where next nearest resistance levels were seen at 1347.5 and 1352.5. Support levels were seen at 1337 and 1332.5 regions.