Daily SGX Stock Market Updates

MARKET REVIEW:-

• Singapore stocks hit their highest in almost a year on Tuesday, posting the best monthly gain since January.
• Singapore share opens with deep gap @ 2985.43, and suddenly recovers and traded above 3000 mark , today STI touched its new 52 week high of 3040.11, but cant able to crossed this level and closed with gain near to this level @ 3036.40 with gain of 3.60 up by 0.12%.
• STI share prices ended mostly unchanged, closing 0.1 per cent higher on Tuesday as traders stayed cautious ahead of new stimulus measures from European and US central banks. Gainers edged out losers 182 to 177. A total of 1.54 billion.

MARKET FORECAST:-

• STI crossed its 3000 mark made a day high near to 3040 levels and closed well above 3000 level , now we could expect more upward rally in the STI.
• STI breached its 3015 resistance level and faced resistance @ 3040 mark, for the upward direction it has to maintain itself above this mark.
• On the Daily chart we can see the moving average crossover where 50 day MA level crossed 200 day MA level from below which is bullish sign.
• STI having a major resistance area above the 3040, as previously STI faced resistance this same levels and cant able to crossed this and this time if it crossed and maintain and crossed than we can see more upward rally in the markets.

SUPPORT:-

• STI having nearest support @ 3000 level and below this level it can take support @ 2985-2965 will be the support zone for STI.

RESISTANCE:-

• STI having Resistance @3040 and above this level it may take resistance @ 3060-3080 levels.

TECHNICAL INDICATOR:-

• Technical indicators are looking bullish on chart.

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