9:57 AM
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| STI Technical Chart |
STI currently is in consolidation/correction phrase which denotes the good entry for investors. It’s only a 3 month rally in STI and its not at its highest level the higher levels are still there.
As STI trading above its 61.8% retracement level and heading towards the 78.6% mark, in between STI having immediate resistance levels after breaching these levels STI can move towards the next level.
STI is in intermediate consolidation or correction phrase and we can expect some more point’s correction in it which will be healthy for new investors who want to enter in the markets.
STI made a tweezers bottom candlestick pattern with doji stars. It reflects that index traded and took support at the same levels which is bullish sign for STI.
STI Resistance Levels:
STI having Resistance @ 3315 and above this level it may take resistance from 3345-3385 levels.
STI Support Levels:
STI having nearest support @ 3260 below this 3240-3220 will be the support area for market.
Technical Indicators:
Technical indicators give the impression of being in overbought zone.MACD gives bullish cross over and RSI rebound from high and trading @ 69.69 mark.
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Support
1
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Support
2
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Support
3
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Resistance
1
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Resistance
2
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Resistance
3
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3260
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3240
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3220
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3315
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3345
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3385
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