SGX Nifty , STI Market for Tomorrow

MARKET REVIEW

After a winning strike of last week on the very first day on new week STI closed with some lose.

STI opens @ 3070.84 at days high but not sustains that higher level and made a low of 3044.33 and finally closed with some points of recovery @ 3057.38 losses of 13.46 points down by 0.44%.

MARKET FORECAST

As we told in our previous reports that STI having a trading range of 2950-3120 and it is moving between this range only and before last week STI breached this 2950 level and made a low of 2919 took support @ its 61.8% retreatment level.

Today STI faced Resistance @ 3070 level which is its previous multiple support as well as Resistance level, so now this level again act as a Resistance for the Market and also it took support @ up slopping trend line today. So the coming days , STI have to maintain above its 3070 levels for upwards rally and also not to breached its up slopping trend line level if

breached than it can go further down side.

SUPPORT

STI having strong support @ 3020 and below this level it can take support @ 2990-2960 levels.

RESISTANCE

STI having Resistance @ 3070 and above this level 3100-3130 will be the major resistance zone for STI.

TECHNICAL INDICATORS

MACD turn to be bullish phrase as it gave bullish crossover and also RSI reverse with today move, from up to down side but still maintain above its centreline of 50 @ 52.24.

Genting Singapore PLC

- Genting Singapore PLC took support @ its 1.86 levels and now crossed its 50 day MA level of 2.021 and closed on week high of 2.04.\

- Genting Singapore PLC making a Falling wedge pattern, as it was trading in a bearish consolidation trend and now it can move to bullish zone as it took support @ lower support line and reverse,  so if it 

will give breakout above 2.04 it can turn to be bullish.

- Genting Singapore PLC having a Resistance level @ 2.04 and it can move towards and crossed its upper trend line which is connecting with lower high and go for 2.16-2.25 and above.

- Genting Singapore Ltd having Support @ 2.00 levels and below this level 1.96-1.86 will be the major support zone for Genting.

- Technical Indicator MACD gave its bullish Crossover and seems more bullish and RSI trading above centreline of 50 @

59.18.

Singapore Stock Market for Tomorrow

STI took support @ its 61.8% retracement level of 2920 and clime upwards today it's a good sign as this retracement level act like strong

level and as we told if STI takes Support above 2920 than chance are likely to move upward direction.

STI trading below its up slopping trend line and now for coming days this trend line i.e. 3035 level will be the act as a major Resistance level

so if the STI comes above this and maintain this level than only it will be come in the safe zone

After a breakout of up slopping trend line it is trading @ lower levels and also consolidating there but still not breaching the support level of 2920 if it breaks this level than it will be a cautious situation.

SUPPORT

STI having strong support @ 2920 which is its 61.8% Retracement level if STI breached this level than it can go for 2885-2855 level.

RESISTANCE

STI having Resistance @ 3005 and above this level 3035-3070 will be the major resistance zone for STI.

SGX Derivative Analysis

Trading on Singapore Exchange's derivatives and securities markets increased in February from a year earlier.

In the securities market:

- Securities turnover grew 32 per cent year on year to $31.5 billion with an SDAV of $1.7 billion.

- ETF trading tripled to $628 million from a year earlier. Five Asian sectoral ETFs were added in February, offering customers the region's most comprehensive suite of sectoral ETFs. The additions bring to 80 the total number of ETFs on SGX.

In the derivatives and commodities markets

- Derivatives volume was 5.2 million contracts, up 39 per cent from the previous year. The average daily volume was 300,493 contracts.

- Nifty index futures volume grew 55 per cent year on year to 1.1 million contracts while FTSE A50 futures activity continued to increase with volume of 221,729 contracts in February.

- AsiaClear volume in February doubled to 15,571 contracts from a year earlier.

- The OTC financial derivatives clearing business, which began in November, showed good traction with a notional US$24.2 billion of interest rate swaps cleared from the launch to end-February. In February alone, a notional US$10.2 billion of swaps were cleared.

New statistics added to this report include data on securities on loan under the CDP Securities Borrowing and Lending programme and trading statistics for LME-SGX metal futures.

Singapore Stock Market(STI) Tomorrow

Market forecast for STI

STI closed near its day low, first STI go upwards and due to un sustainability @ higher levels STI closed @ lower levels and with this STI formed a candlestick which is having a long upper shadow and small real body, this is typically a bearish signal particularly when it occurs near a high price level, at resistance level, or when the security is overbought.

As we saw that from past three trading session STI in unable to cross its higher level of 3070 which is its good resistance level and also above than its 200 day MA level of 3066.95, if STI sustains this level than only we can see some bullish signal in the market otherwise it can move

more downside from this level.

Resistance

STI having Resistance @ 3072 which is a good Resistance zone as this level is good support for STI previously and if sustains than next higher level comes @ 3100-3130.

SUPPORT

STI having strong support @ 3010 level if STI breached this level than it can go for 2965-2935 level soon

Singapore Stock Market(STI) Tomorrow

STI Tomorrow

STI closed near to its day high and it formed a Bullish white candlestick pattern, this is generally considered bullish, as prices closed

significantly higher than they opened. And in which situation it forms it will be a bullish signal for market, and also STI closed above its 200

day MA level of 3063.80 @ 3067.60.

As we told in our weekly report that STI trading @ its up slopping trend line and trying to maintain itself above this trend line and today also

it were closed above this trend line and not sustains below this which is good sign of recovery, if STI sustained this levels than we can see

100-150 points of recovery in the market.

STI Resistance

STI having Resistance @ 3080 which is a good Resistance zone as this level is good support for STI previously and if sustains than next

higher level comes @ 3100-3130.

STI Support

STI having strong support @ 3045 level if STI breached this level than it can go for 3010-2965 level soon.

Singapore Stock Market(STI) Tomorrow

Singapore Stock Market Tomorrow
As we told in our weekly report that STI trading @ its up slopping trend line and trying to maintain itself above this trend line and today also
it were closed above this trend line and not sustains below this which is good sign of recovery, If STI will maintain this level than it can go
upwards and if it can't sustains and we can see more down trend in the market.

Support for STI
STI having strong support @ 2985 level if STI breached this level than it can go for 2965-2945-2920 level soon as STI having its 76.40%
retracement level @2921 level so this level will act as a strong support zone for Market.

Resistace for STI
STI having Resistance @ 3035 which is a good Resistance zone as STI were not able to sustain this level from past 2 days and if sustains than
next higher level comes @ 3070-3100.