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Stock Market Today Singapore
Singapore equities open on flat node on Tuesday, but it trades and closed in positive node.
Straits Times Index open @ 2962.18 levels and then trades higher and made 1 week high of 2992.82 and finally closed @ 2989.07 with gain of 26.89 points down by 0.91%. Volume was 1.29 billion shares worth $1 billion. Gainers led losers 278 to 102.
Singapore shares rose to a one-week high by midday on Tuesday, in line with other Asian bourses, as a contract win by the world's second-largest rig builder SembCorp Marine Ltd and high oil prices lifted sentiment for oil and gas firms.
SGX Stocks for Tomorrow
STI trading above its 2950 levels, which is a strong support for STI and closed @ 2989.07 after facing a resistance @ it multiple level of 2992.82 and closed slightly below this.
Today STI breached its upper boundary of short term technical pattern called flag, as we mention in our weekly report that which is continuous pattern. And as per the nature of pattern it traded upper band of pattern in other works resistance level and we expect it will consolidate between the boundaries of pattern.
STI cross this resistance level and closed just above that level so we are expecting that it can trade above this level in coming days if opens above resistance level of 2992 mark.
For the coming days STI can traded in a narrow range and investors have to follow a cautious approach in markets.
STI Support
STI having nearest support @ 2975 and below this level it can take support @ 2950-2920 level is the major support zone.
STI Resistance
STI having Resistance @ 3000 and above this level it may take resistance @ 3015-3035 levels.
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