9:09 PM
Admin
Market Forecast for week ahead:
- If we see past few years chart then we find that from Nov 2010 to March 2013 STI crossed its 3300 mark thrice and every time it faced resistance near the 3320 mark.
- STI formed a candlestick pattern called “Black Spinning Top” is a single candlestick pattern. Its shape is a small black body with upper and lower shadows having a greater length than the body's length. If a Black Spinning Top is observed after a long rally or long white candlestick, this implies weakness among the bulls and it is a warning about a potential change or interruption in trend. This is applicable in case of STI.
- For coming week STI looks neutral, whenever STI breached either side above 3320 and below 3220 the movement we will see the same.
STI Resistance:
- STI having Resistance @ 3320 and above this level it may take resistance from 3335-3350 levels.
STI Support:
- STI having nearest support @ 3265 below this 3240-3220 will be the support area for market.
Technical Indicators:
Technical indicators are giving missed impression.MACD seems to give bearish crossover.RSI trading above its centreline @ 67.66 and CCI near to its bullish zone @ 83.940
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 3265 | 3240 | 3220 | 3320 | 3335 | 3350 |
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