FKLI Commentary on 21/11/08

FKLI November contract plunge 13.5 points lower as compare to previous trading session at 854.5 with a total of 6377 lots traded in the market.

FKLI plunge almost 20 point at it’s lowest after Dow Jones futures trading and regional poor performance during the trading session. Technically, despite of weak sentiment within the market, FKLI seems supported above 61.8% Fibonacci figure level at 851 regions range 802 to 927. Traders were advice to hold short position provided support levels at 851 and 840 levels were violated. Resistance levels were seen at 860 and 878 region.