FKLI Daily Commentary for 9th Aug 2010

FKLI Aug Futures contract closed 3.5 points lower as compare to previous trading session to close at 1363 levels with a total of 2,516 lots traded in the market. FKLI was traded within range during entire trading sessions as regional indices and Dow Jones futures electronic trading were not traded on affirmative direction.
FKLI traded lower after reached resistance levels at 1368 regions before to test support levels at 1363 regions. FKLI currently rested on above the support trend line at 1363 regions while 78.6% Fibonacci support levels seen at 1362 regions. Technically, FKLI would trigger further sell activity provided support levels at 1360.5 and 1355 were violated in the coming trading sessions. Else, FKLI would still consider riding on bullish market where nearest resistance levels seen at 1369 and 1379 regions.