Singapore Stock Market (STI) for Tomorrow

Singapore Market Review

Singapore shares are set to fall on Monday after ratings agency Standard & Poor's downgraded the credit ratings of nine euro zone countries, including France which lost its top-notch AAA status. Market opens @2760.75loss of 30.79 points or 1.08% on opening.

STI opens down and trades down all the day it fell by midday, largely in line with regional markets, as the mass euro-zone sovereign debt rating cuts by Standard & Poor's, STI made a low of 2746.60 below its major support of 2750 and finally closed 2756.49 with loss of 35.05 point down by 1.26% .

Some 400.7 million shares worth S$355.9 million were traded, compared with 510.3 million shares worth S$471.9 million at the same time on Friday. Singapore Exchange Ltd, Asia's second-largest listed bourse operator, fell 1.6 nd percent ahead of fiscal 2 -quarter results that will likely show a sharp drop in net
profit.

STI For Tomorrow

Today the Singapore market was in negative territory for the euro zone reason but still it looks more bearish.
 

As we mention in our weekly report that STI having a multiple resistance level @ 2792-95 levels and it can face major resistance at this level and STI follow this and trades lower.

Today STI formed a bearish candlestick pattern which covers ¾ of last day green candle and closed down and we expect that STI may negative from this level.

STI Support

STI having nearest support @ 2740 and below this level it can take support @ 2720-2690 level is the major support level.

STI Resistance

STI having Resistance @ 2765 and above this level it may take resistance from 2785-2795 levels.

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