FKLI Commentary on 09/12/08

FKLI November contract close marginally 1.5 points lower compare to previous trading session at 841.5 with a total of 3008 lots traded in the market. FKLI was traded sideways during trading session due to long public holidays ahead despite world indices remain open on Monday.

Technically, FKLI seems traded in the symmetric triangle in the hourly while remain supported above 78.6% Fibonacci figure at 830 levels. We expect FKLI would traded higher towards 877 region provided if support levels at 830 and 805 were not violated. Traders were would advice to hold long position in the coming trading session while being cautious around the resistances level at 860 and 877 region.