8:56 PM
Admin
Market Reviews:
STI
markets were
flat to weaker on Monday,
telecom
firm Singapore Telecommunications Ltd and port operator Hutchison
Port Holdings Trust were major losers as both stocks went
ex-dividend.
Today
STI opens lower @3239.66 and gaining some points and made day high @
3243.14 and then fell down and made day low of @ 3229.68 and recovers
some points. Finally closed @ 3241.79 with loss of 12.34 down by
0.38%.
Some
2.02 billion shares, valued at S$825.9 million were traded. Gainers
numbered 161 while losers numbered 278.
Market
forecast:
STI
trading below its up slopping supports line; today it traded lower
levels and closed just near to resistance @ 3250.
STI
formed a Doji candlestick pattern, which took support@ 50 day EMA
level and closed near to opening after making high. There is no major
difference between opening and closing of STI today.
As we can
see on daily chart STI formed a pattern which replicate like rising
wedge and as per the pattern if STI maintain above its up sloping
resistance line i.e. 3270 mark then we can see more upside move in
the Index, and for other side if STI breached its up sloping support
line @ 3230 mark then next support will come @ 3180 level and after
that we can see bearish move in market.
Support
:
STI having
immediate support @ 3220 level and below this level it can take
support @3195-3180 will be the support zone for STI.
Resistance:
STI having
immediate Resistance @3260 and above this level it may take
resistance @ 3275-3290 levels.
Technical
indicators:
Technical
indicators MACD turn to bearish , its
14-day RSI is in recovering mode and closed @ 54.57 and CCI recovers
again and trading @ 63.07
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