8:49 PM
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Market Review:
Singapore share closed mixed on Monday amid concerns over weak Chinese economic data.
Singapore share prices opened higher @ 3294.94 with gain of 5.41 points and then fell down and took support @ 3283.89 levels and recover and made high of 3299.47 levels and finally closed @ 3292.97 with gain of 3.44 points up by 0.11%.Some 4.47 billion shares, valued at S$1.67 billion were traded. Losers outnumbered gainers 338 to 181.
China's inflation hit a 10-month high of 3.2 per cent in February while growth in industrial output and retail sales slowed.
Market forecast:
STI ended for the day with little gain, above its Resistance level of 3285 @ 3292.92 levels which is good sign for Index.
STI trading in the range of 3280-3300 from few days, and resist @ 3300 mark, so for further direction need to cross this level.
Now for coming days 3250 will act as a major support zone because if STI break this level then it will be more bearish and can touch 3220 levels soon.
Support:
STI having immediate support @ 3280 level and below this level it can take support @3265-3250 will be the support zone for STI.
Resistance:
STI having immediate Resistance @3305 and above this level it may take resistance @ 3315-3330 levels.
Technical indicators:
Technical indicators MACD, RSI and CCI all are in recovery mode with today’s move. As we can see in the chart, RSI trading above its centreline @ 56.984 and CCI closed @ +53.779.
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 3280 | 3265 | 3250 | 3305 | 3315 | 3330 |
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