8:10 PM
Admin
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| STI Weekly Chart |
Market Forecast for week ahead:
Ø STI trading in a consolidation phrase and if we will see in the chart it trading between the 3220 and 3300 mark, either side breakout will give STI the further direction.
Ø Overall STI trading in bullish zone, and above its 61.8% retracement level which is again a higher level and consolidation at this level expected also gives a good buying opportunity to investors.
Ø For the coming week STI looks again range bound and can be bullish above the 3300 mark.
STI Resistance:
STI having Resistance @ 3300 and above this level it may take resistance from 3320-3345 levels.
STI Support:
STI having nearest support @ 3265 below this 3240-3220 will be the support area for market.
Technical Indicators:
Technical indicators give the impression of being in overbought zone.MACD gives bullish cross over and RSI rebound from high and trading @ 68.327 mark.
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Support
1
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Support
2
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Support
3
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Resistance
1
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Resistance
2
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Resistance
3
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3265
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3250
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3220
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3300
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3320
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3345
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