FKLI Daily: Defended well at 1300 level

1300 physiological support levels was defended well. Thus, correction phase is likely to extend in near term with immediate upside resistance is pegged at 1315-1320 followed by 1325-1337 levels. While, immediate downside support is looking at 1300 levels followed by 1291-1288 (gap left over on 5/3/2010).