FKLI Daily Commentary for 25th Aug 2010
FKLI Aug Futures contract traded 2.0 points lower to close at 1399.0 levels as compare to previous trading session to with a total of 5,108 lots traded in the market. Wild trading day for FKLI price trading as FKLI open lower for trading and soon reach new height before plunge lower towards day low as regional indices sudden turn towards south during 2nd trading sessions.
FKLI price seems supported above previous support levels at 1396 region before manage to surge higher towards 1403; at 38.2% Fibonacci resistance levels; in the hourly price. However, FKLI price seems falling towards day low to reach 1394 before settle at 1399; 61.8% Fibonacci rebound resistance levels. Technically, FKLI price seems likely to undergo some correction phase where next nearest support levels seen at 1390 and 1383.5 regions. Failure to hold FKLI traded price above support levels shall further indicates more selling pressure. However, resistance levels seen at 1403 and 1417 regions.
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