7:49 PM
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Singapore Stock Market Review
The market kicked off on a flat note on Tuesday after US stocks closed slightly lower on lingering uncertainty about the euro zone's debt crisis, with Greek leaders delaying bailout talks.
Straits Times Index added 7 points or 0.24 % to 2,947.10, after this opening one traded in higher side but soon it comes down and made a day low @ 2940 levels and then in the mid day it turns and made a high of 2963.15and then finally closed @ 2957.78 with gain of 17.68 points up by 0.60%.
Turnover remained robust at 2.59 billion units worth S$1.57 billion. There were 252 risers versus 191 falls in the broad market.
Singapore Market Tomorrow
STI maintain itself above the 2950 levels and made a high of 2963.19 above our given resistance level and closed with gain.
As per the weekly chart it's closed above 50 week MA level of 2926.25 @ 2957.78 with good volumes, so we are expecting more bullishness in the market and STI could touch 3000 level soon.
As we mention in our weekly report that above 2930, it's challenging for STI to sustain this level and today STI crossed that level and opens above major resistance of 2950, so for this reason we are bullish in STI.
STI Support
STI having nearest support @ 2940 and below this level it can take support @ 2920-2895 level is the major support level.
STI Resistance
STI having Resistance @ 2965 and above this level it may take resistance from 2980-3000 levels.
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