7:07 PM
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| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 3140 | 3110 | 3065 | 3185 | 3220 | 3255 |
Market Forecast for week ahead:
STI this week closed with some losses after 4 weeks of winning strike, STI made it s new High this week @ 3180.50 mark but faced resistance every higher level and finally closed flat.
STI this week made a candlestick pattern called a spinning top candle with a small real body. Spinning tops identify a session in which there is little price action as defined by the difference between the open and the close. During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
For the coming week STI look volatile, because it is trading near the resistance level of 3180 and face some pressure to breach this level if crossed the resistance then we can see the continue uptrend.
STI Resistance:
STI having Resistance @ 3185 and above this level it may take resistance from 3220-3255 levels.
STI Support:
STI having nearest support @ 3140 below this 3110-3065 will be the support area for market.
Technical Indicators:
Technical indicators give the impression of being in recovery mode.MACD gives bullish cross over and RSI move above its centreline area.
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