8:12 PM
Admin
After 3 days of wining strike today STI opens higher above 3060 level but can’t sustain above that level and closed with loss.
STI formed a candlestick pattern called an inverted hammer. As this occurs during a downtrend it implies a reversal. Look for a confirmation of the reversal on the bar. STI opens higher and closed near to lower level of the day.
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 @ 3020 level and below this level it can take support @ 2995-2975 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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