12:15 PM
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STI Market Weekly Forecast 24-28 Sept
It’s a second week of gain in STI, trading with a very ranging move in a STI and tough fight between bulls and bears.
STI struggling near the Resistance level of 3088 and this week too, index can’t able to cross this level. Also on the other side it holds the support level strongly and recovers from that level and closed near the resistance levels.
On the weekly chart STI trading @ its down slopping resistance line and but closed below this line and also as STI trading above its 61.8% retracement level for this reason we can see some consolidation to upward move in the markets.
STI Support Level
STI having nearest support @ 3040 below this 3020-3000 will be the support area for market.
STI Resistance Level
STI having Resistance @ 3090 and above this level it may take resistance from 3115-3130 levels.
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