FKLI Daily Commentary for 11th Aug 2010

FKLI Aug Futures contract traded 9.5 points lower to close at 1356.0 levels as compare to previous trading session to with a total of 3,431 lots traded in the market. FKLI opened unchanged and continue to trade lower during trading sessions as regional indices especially Shanghai Index plunge more than 2% upon end of trading sessions while Dow Jones Futures electronic trading was traded lower during the trading hours.
FKLI plunge lower during trading sessions after attempt to penetrate resistance levels at 1367 failed while previous support levels at 1361 seems fails to hold against selling pressure. Technically, FKLI seems trading south in the coming trading sessions provided support levels at 1355 and 13505 fails to hold firm against the selling activities. However, FKLI would be affirming bullish sentiment back into rally once resistance levels at 1367 and 1379 were violated in the coming trading sessions.