SGX Stock Market Live Updates for Friday!!

>Market Review for July 26:

• Singapore opens higher @ 3000 mark with the hope of further stimulus measures from the U.S.
• Singapore share opens @ 3000 mark and then traded sideways in the range of 3000-3010 and one STI crossed 3010 level it made a day high of 3026.49 and faced resistance @ that level as it was a multiple resistance level and fell down and closed @ 3004.57 mark with gain of 13.65 point up by 0.46%. The broader market, 1.46 billion shares changed hands. Gainers narrowly edged losers 182 to 175.
• Singapore's industrial output raised a faster-than-expected 7.6% on-year in June as production from the highly unpredictable pharmaceuticals sector surged and the decline in electronics production moderated, according to Economic Development Board (EDB) data.

>Market Forecast for July 27:

• STI crossed its 3000 mark and closed above that level but with correction of more than 20 points from its day high of 3026.29 marks.
•  STI breached its 3015 resistance level and faced resistance @ 3026 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 @ 2985 level and below this level it can take support @ 2965-2945 will be the support zone for STI.

>RESISTANCE:

• STI having Resistance @3015 and above this level it may take resistance @ 3040-3060 levels.

>TECHNICAL INDICATOR:

• Technical indicators are looking bullish on chart.



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