Market Review
STI opens on flat node in today's session as per mixed sentiments in over
the western and European countries.

STI opens @ 2828.53 levels and then it made a high of 2859.38 levels but
cant sustains the higher levels and traders in range but in the midsession
it suddenly turns and fell sharply and made a low of 2816.51 levels and
finally closed @ 2824.96 with loss of 3.57 points down by 0.13%.


SUPPORT
STI having nearest support @ 2820 and below this level it
can take support @ 2790-2750 levels is the major support
level.

Resistance
STI having immediate Resistance @ 2860 and above this
level 2890-2920 will be the major Resistance for market.

MARKET FORECAST
STI breached its major support of 2820 levels and took support on 2816.51
levels in today's session, and also it can able to cross its major resistance
zone of 2860, so the situation is weak on the markets.

Still STI cant able to sustain the lower level of 2820 so in future if it will
sustains below this level then it can move more down side.

On the other side STI making lower lows and lower highs its can able to
cross previous high but it breached its previous low day by day so if it will
sustains above previous day high then only it can move higher side.


TECHNICAL INDICATORS
Technical indicator MACD, RSI and stochastic trading in a
negative zone and look bearish.

SGX Nifty Updates

Market Review

STI opens on weak node on Monday morning after Standard & Poor's downgraded the United States top-tier credit rating. 

STI opens with more than 60 points @ 2933.81 and it trades down wards most of the day and breached all the support levels and took support @ day's low of 2847 levels, and from the lower level it recovers some points and finally closed @ 2884 with loss of 110.78 points down by 3.70%.

Market Forcast

Today STI breached all the major supports and fell below the range of 2900 and made a low of 2847 level and currently traded @ 2884 levels.

STI fell badly in past five days, and today's fall was the most panic fall in the 5 days , as STI breached its past support and previous lower level of 2919, and sustain below this level, now from this level we can say STI is in the down trend.

Technically now STI looks weak on charts and today it formed a long black candlestick and also previously also it formed the same pattern of candle , from this its conforms that from this level now we expect STI below 2800 mark.

Support

STI having nearest support @ 2850 and below this level it can take support @ 2810-2770 levels is the major support.

Resistance

STI having Resistance @ 2920-2950-2980 will be the major Resistance for market.

Technical indicator MACD, RSI and stochastic trading in a negative zone and look bearish.

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