8:21 PM
Admin
MARKET FORECAST
As in the last week STI breached its 3040 support level and fails to touch this level this week and today crossed its psychological base of 3000 mark.
Now from todays move market likely to remain downside to sideways for this week. As we told in our yesterdays report that below STI fall in the downward channel and as it faced resistance @ upper down slopping trend line so expected that it can took support @ the down slopping support line @ 2980 levels. And today it took support that level.
The next support level comes at the 2980 levels. On the upside, 3040 remains the immediate support-turned-resistance to overcome.
SUPPORT
STI having nearest support @ 2980 level and below this level it can take support @ 2960-2940 will be the support zone for STI.
RESISTANCE
STI having Resistance @3015 and above this level it may take resistance @ 3040-3060 levels.
TECHNICAL INDICATORS
Technical indicators are looking bearish on chart.
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