8:28 PM
Admin
STI today closed below its 50 day MA level of 3050.36 and also the resist near to this level @ 3051.63.
STI formed a long lower shadow candlestick pattern This is typically a bullish signal particularly when it occurs near a low price level, at a support level, or when the security is oversold. Next day movement will decide the exact direction of STI.
STI is in consolidation phrase. Any either side movement above 3100 and below 3000 can decide the coming movement of the STI. Technical indicators are look to loosing strength on charts.
Support level
STI having nearest support @ 3030 level and below this level it can take support @ 3015-2995 will be the support zone for STI.
Resistance level
STI having Resistance @3065 and above this level it may take resistance @ 3075-3090 levels.
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