STI Singapore Market Outlook for 20 March 2013

Market Review
After yesterdays 2 week lower level today STI opens higher and traded above the 3250 mark. Asian markets mostly rebounded on today.

STI opens higher @ 3263.18 levels and then also it were the day low point and STI recovers from this level and traded above 3265 mark and made day high @ 3283.70 and finally closed @ 3271.55 with gain of 12.66 points up by 0.39%.

Some 2.82 billion shares, valued at S$1.25 billion were traded. Gainers outnumbered losers 254 to 169.

Market forecast:

STI rebound from its 2 week lower level and traded above the last day closing, today closed with 12.66 point high above 3270 mark.

Today STI fill the gap of yesterday Falling window but closed below that gap , for the next up move STI have to maintain above 3320 levels and STI having good support @ 3220 mark.

Again STI trading between the slopping lines, and now it is having support @ 3260-3240 levels and for higher levels it’s necessary for STI to maintain itself above 3320 mark.

Support:

STI having immediate support @ 3260 level and below this level it can take support @3240-3220 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3285 and above this level it may take resistance @ 3300-3320 levels.

Technical indicators:

Technical indicators MACD, RSI and CCI all are in recovery mode with today’s move.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3260	3240	3220	3285	3300	3320