STI Market Forecast For The Week Ahead: 26-30 Nov

Market Forecast for week ahead:

• Last week STI dropped below the 50 week MA level, but this week it open and closed well above this level.

• As per our previous report we told that either side break 3100-3000 will decide the direction and STI breached its support level and fell below 3000 mark. Will expected more panic below 2930 levels.

• For the coming week STI look volatile, because it is trading near the resistance level and face some pressure to breach this level and look further bearish below 2940 levels.

STI Resistance:

STI having Resistance @ 3010 and above this level it may take resistance from 3030-3050 levels.

STI Support:

STI having nearest support @ 2950 below this 2920-2900 will be the support area for market.

Technical Indicators:

Technical indicators give the impression of being in recovery mode.