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SGX Today
Singapore shares got a boost on Thursday from an overnight rebound in US equities on an encouraging start to earnings season and improved investor sentiment after a European Central Bank policymaker said bondbuying was still an option to help Spain.
Straits Times Index added 13.20 points or 0.45 per cent to 2,959.64. and after opening it trades upwards and ultimately made a high of 2982.96 very near to its 50 day MA level and closed @ 2978.14 with gain of 31.70 points up by 1.08%.
On a turnover of $1.3 billion, 3.21 billion shares were traded where gainers outnumbered losers 238 to 142.
SGX Singapore Market Tomorrow
After yesterdays bearish move today STI recovers all the yesterdays’ losses and closed higher side but still below its 50 day MA level.
yesterday markets hits its support levels and closed on the lower level and today its took support that lower level and ended near to strong resistance of 50 day MA level of 2982.95 and closed lower than this.
STI trading below the 50 day MA level of 2983.71, and closed well below this level, now these 2982 levels will act major resistance for STI.
We think that investors have to adopt cautious approach towards any trade as the market is volatile and uncertain so to keep strict stop loss for any position.
STI Support
STI having nearest support @ 2965 level and below this level it can take support @ 2945-2912 level is the major support zone.
STI Resistance
STI having Resistance @ 2985 and above this level it may take resistance @ 2995-3010 levels.
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