Singapore STI Stock Picks for Tomorrow

Straits Time Index support & Resistance Tomorrow

S - 2720, 2690, 2670

R - 2760, 2775, 2790

STI Review for the Day

The market kicked off cautiously on Thursday as investors waited for the results of bond auctions for Italy and Spain which could determine the direction of the euro zone crisis.

STI lost 2.30 points or 0.08 % to 2,744.83. STI opens flat and then it fell down and took support @ 2732.31 levels and turn back from that lower level and trades upwards and made a high of 2759.77 and facing Resistance near to 2760 levels and fell again and closed @ 2743.66 with loss of 3.47 points down by 0.13%.
A total of 958.3 million shares, valued at $920.3 million were traded where losers outnumbered gainers 198 to 172.

Singapore Market Tomorrow

Today the Singapore market was volatile as it traded both the direction and finally closed almost same level where it closed yesterday.

As STI yesterday crossed its 50 day MA level and closed above this, today also it was traded above its 50 day MA level of 2720.49 and closed well above this level but in loss from yesterday.
 

Today STI formed a candlestick pattern called The Black Spinning Top it is a single candlestick pattern. Its shape is a small black body with upper and lower shadows having a greater length than the body's length.
STI today also closed near to Resistance of 2750 and we expect that it can cross this level and if it will do this then STI could be bullish for more 50-100 points. On the other side 2720 mark is the major support level for STI.

STI Support

STI having nearest support @ 2720 and below this level it can take support @ 2690-2670 level is the major support level.

STI Resistance

STI having Resistance @ 2760 and above this level it may take resistance from 2775-2790 levels.

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