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Friday, November 30, 2012

STI Technical Outlook for Today 30-Nov

Support 1
Support 2
Support 3
Resistance 1
Resistance 2
Resistance 3

STI rebound from its 2997 levels yesterday and today it crossed stepwise levels like opens above its 50% retracement level of 3022.03 and then crossed 50 day MA level after 17 trading days and crossed its 61.8% retracement  level of 3043.06 and closed above this level.

Today STI formed a candlestick called The White Opening Marubozu is a single candlestick pattern characterized by a long white body. It has an upper shadow but no lower shadow. This is a strong bullish candlestick pattern.

STI is in bullish phrase as it is trading above the resistance levels and if it will maintain above the 3020 mark it can move further upside.

STI Support Level
STI having nearest support @ 3020 level and below this level it can take support @3000-2980 will be the support zone for STI.

STI Resistance Level
STI having Resistance @3065 and above this level it may take resistance @ 3085-3100 levels.

Technical Indicators
Technical indicators are seems to recover from lower levels on charts.

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