Thursday, February 23, 2012

Daily SGX Singapore Stocks Report

SGX Market Today's' Review
Singapore shares rose on Monday, buoyed by China's move to lower the reserve requirement for banks and expectation that Greece will secure a second bailout. China's central bank on Saturday cut its reserve requirement ratio (RRR).

STI opens @ high of the day on 3021.53 levels and not able to hold this level for longer and slips and traded below high, took support @ 3000.59 and take a V shape turn from that level and closed almost @ ay high of 3021.19 up by 20.60 points up by 0.69%.

Volume was 2.21 billion shares worth $1.28 billion. Gainers led losers 233 to 200.

SGX Market for Tomorrow
Today, STI again made a new high of 3021.53 and closed also @ day high, it took support @ 3000 mark and takes a sharp turn from that level due to positive sentiments. STI closed above its 3020 level but it can't able to hold its higher level in trading session and whole day trades lower but in the closing session it able to close above 3020 levels.

For the coming days, if STI continue maintain its 3000 mark and able to cross 3020 mark than it can move towards 3050-3100 mark soon.

On the other side of coin STI having an immediate support zone @ 2995 if STI sustains above this level than it can move towards higher side and other way if it crossed this level then again it can taste 2940-2920 levels and repeat few days back trend and goes more down.

STI Support
STI having nearest support @ 2995 and below this level it can take support @ 2965 levels and 2945 is the major support level.

STI Resistance 
STI having Resistance @ 3025 and above this level it may take resistance from 3040-3060 levels.

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