11:48 AM
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STI Market Forecast 14-Sept
Today STI showed good recovery and closed on bullish note. On candlestick pattern it made a doji with long lower tail, it indicates further upside bias-ness. It may take rest in near term to gain strength for an upside move. Overall it is looking bullish on charts.
STI has given closing above its 50 DMA and sustaining above it, STI will give further confirmation for positive sentiments to continue. 3040 is still major hurdle in upside and it may take strong resistance from this level. In near term it is taking support of 3000. Technical indicators MACD and RSI support for a positive sentiments in STI.
Support
STI having nearest support @ 3000 and below this level it can take support @ 2970 levels and 2945 is the major support level.
Resistance
STI having Resistance @ 3040 and above this level it may take resistance from 3065-3090 levels.
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