Stock Market Daily Updates

STI News for July 11, '12:-

Support 1: 2950
Support 2: 2935
Support 3: 2915

Resistance 1: 2975
Resistance 2: 2995
Resistance 3: 3010

STI REVIEW:-

£ STI after last more than a week rise it was straight 8 days gaining more than 170 points fell yesterday and took support near to 2930 levels. But today with the other Asian markets STI opens in positive node.

£ Singapore equities opens with Higher @ 2943.22 levels and than it comes down and made day low of 2937.60 and then again trades higher and made day high of 2966.22 and then finally closed @ 2964.62 with gain of 35.54 points up by 1.21%.

£ The gains of the previous 8 sessions came in low volume and so it was that yesterday's selling also occurred in thin trading. Volume was 1.67 billion shares worth S$1.07 billion. Gainers outnumbered losers 240 to 137.

STI FORECAST:-

£ STI opens well above yesterdays closing and closed on higher side near to day high and good resistance level.

£ As we previously mention in our report that technically STI looks bullish above 2910 levels and if maintain these 2945
level than this time we expect to breached its 3035 level soon.

£ STI formed a candlestick pattern a big white candle occurred. This is bullish pattern as it opens and made low and traded higher side and closed near days high, so this candle doesn’t have lower shadow but having upper shadow and it’s a bullish pattern.

STI SUPPORT:-

£ STI having nearest support @ 2950 level and below this level it can take support @ 2935-2915 will be the support zone for STI.

STI RESISTANCE:-

£ STI having Resistance @2975 and above this level it may take resistance @ 2995-3010 levels.

STI INDICATOR:-

£ Technical indicators are looking bearish on chart.