Singapore Stock Market (STI) for Tomorrow - 25 May

MARKET REVIEW

After a freefall of last trading day, today STI was quite and having a range bound movement, but closed in positive node. STI opens @ 3110.48, than goes down and took support @ its lower level of 3105.32, and after that it made a high of 3121.66 , but finally closed @ 3113.09 with gain of 2.61 point up by 0.08%.

MARKET FORECAST

STI breaks all its support level of 100-50-200 day MA levels and today also it was trading below the resistance levels and can't even trade near

to resistance levels.

STI formed a short candle, which denotes very low movement in the market STI trades in very narrow range of 15 points in the whole day. Today is ranging move in STI and yesterday it breached its all major MA levels and today also it took support @ 3105 levels, if it will fails to recover from this level than it could be more bearish in coming days and we can see 100-150 points' correction from this level.

SUPPORT

STI having strong support @ 3090 @ its 50 week MA levels and below this level it can take support @ 3045-3010 levels.

RESISTANCE

STI having Resistance @ 3135 and above this level 3150-3170 will be the small and also major resistance zone for STI.

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SGX Nifty Tomorrow - 11 May

MARKET REVIEW

With the previous days big up move STI today also give good movement and closed above Resistance area. STI opens above 100 day Ma level and after that made a low of 3130.45 but took support @ that level and after that made a high of 3164.98 near to major Resistance zone of 3170, but finally closed @ 3156.64 with gain of 19.32 points up by 0.62%

MARKET FORECAST

As yesterday STI closed above its 100 day MA level and formed a highly bullish candlestick so with these positive biased STI today gives a good movement and closed above its good Resistance level.

STI manage to maintain it's self above its 100 day MA level of 3135.34 and also made a high near to its major and multiple resistance as well as support zone of 3170 @ 3164, but closed below the day's high and with this movement formed a long white Candlestick pattern. As previously STI can face resistance @ 100 day MA level and as today if it will sustains this level and it can go higher side.

SUPPORT

STI having strong support @ 3120 and below this level it can take support @ 3090-3070 levels.

RESISTANCE

STI having Resistance @ 3170 and above this level 3190-3210 will be the small and also major resistance zone for STI.

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