FKLI Approaching 1400 Psychological Resistance
The FTSE Bursa Malaysia Kuala Lumpur Composite Index futures contracts on Bursa Malaysia Derivatives closed higher in tandem with the firmer cash market, dealers said. The benchmark FTSE Bursa Malaysia Kuala Lumpur Composite Index remained firm at its strongest level since February 2008.Both August and September increased 14.5 points each to 1,384 and 1,383, respectively, December rose 12.5 points to 1,381 while March 2011 added 13 points to 1,382.5.
Volume increased to 6,006 lots from Monday's 5,632 lots while open interest declined to 18,424 contracts from 18,503 contracts on Monday.On the cash market, the benchmark index ended 0.57 per cent or 7.89 points higher at 1,378.47.
Volume increased to 6,006 lots from Monday's 5,632 lots while open interest declined to 18,424 contracts from 18,503 contracts on Monday.On the cash market, the benchmark index ended 0.57 per cent or 7.89 points higher at 1,378.47.FKLI Recommendation
Buy on dip / or during forced selling (flurry)
Take profit / SELL into strength close to 1400 Resistance
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