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Monday, April 1, 2013

STI Singapore Market Forecast 02-April

Market Review :
Singapore shares open flat and traded in very narrow range, closed above the 3300 mark.

Singapore equities opens @ 3309.01 and then it made a high of 3314.67 and again traded down wards and made day low @ 3305.43 and closed @ 3307.58 with loss of 0.52 points down by 0.02%.

Asian markets slipped in holiday-hit trade on Monday, with investors unimpressed by a slight improvement in key economic indicators out of China and Tokyo.

Market forecast:
After a long weekend, STI traded flat today in a very narrow range, almost 10 points up and down. Closed and maintain itself above 3300 mark.

STI traded within the previous trading range and made day high @ 3314.67, but can’t able to cross resistance line and traded within it.

For more upward direction STI have to maintain itself above 3300 level and crossed its 3320 level which is major Resistance for STI.

STI having immediate support @ 3295 level and below this level it can take support @3280-3260 will be the support zone for STI.

STI having immediate Resistance @3320 and above this level it may take resistance @ 3335-3350 levels.

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

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

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