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SGX Review
Straits Times Index dropped 10.31 points or 0.37 % to 2,805.54 on Wednesday morning following a selloff in Wall Street late in the session overnight, prompted by a steep drop in Citigroup's profit that led investors to unload bank shares.
STI opens lower just above 2800 mark @ 2805.54 but in the mid day edged slightly higher and made a high of 2824.72 but cant able to hold that higher level and fell down below 2800 mark and took a support @ given level of 2792 and finally closed @ 2795.40 with loss of 20.45 down by 0.73% .
In the midday STI tracking gains in other bourses, as economic data from China pointed to a soft lending that will allow officials to ease monetary policy. Volume was 1.24 billion shares worth $1.45 billion. Losers led gainers 217 to 145.
SGX Singapore for Tomorrow
After an unexpected up rally of yesterday in STI today it cool off the previous days gain and closed in a negative zone.
STI closed below 2800 mark it took support at our given support level of 2792 but it closed near to this level which shows a bearishness in the STI , buy if it will sustain above 2800 mark in coming day then it could cross today's higher level of 2825- 2830.
Now if STI able to sustains above this 2792 levels then we expect that it can touch the 2900 mark soon. and on the other side if it will crossed this level and maintain below this then it seems little negative.
STI Support
STI having nearest support @ 2792 and below this level it can take support @ 2770-2750 level is the major support level.
STI Resistance
STI having Resistance @ 2810 and above this level it may take resistance from 2830-2850 levels.
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