8:34 PM
Admin
Market Reviews:
STI
add some more points on 2nd
trading day of week and contribute in day on day recovery of last
week fall.
STI
opens above 3400 level @ 3401.89 and then it lost some points and
made day low @ 3393.36 marks and again recovers from that level and
made day high @ 3410.02. Finally STI closed @ 3406.08 with gain of
14.78 points up by 0.44%.
Some
3.34 billion shares, valued at S$1.53 billion were traded. Gainers
outnumbered losers 318 to 144.
Market
forecast:
STI
recovers and traded above 3400 mark again, and closed above this
level which is positive sign.
STI
formed white candles today which have long lower shadow and small
upper shadow and body is just double from upper shadow. This candle
indicates good movement in market, market opens flat and made low
after opening and recovers and made day high and finally closed with
some shrinkage in gain.
As
today STI recovers some points from previous fall, still it looks
sideways because STI trading above 78.6% retracement level which is
higher for any index at this point we expect some sideways to downwards.
Support:
STI having
immediate support @ 3380 level and below this level it can take
support @3366 -3340 will be the support zone for STI.
Resistance:
STI having
immediate Resistance @3420 and above this level it may take
resistance @ 3440-3470 levels.
Technical
indicators:
Technical
indicators MACD, RSI trading below centreline @ 53.36, CCI currently
traded @ -30.76 levels.
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 3380 | 3366 | 3340 | 3420 | 3440 | 3470 |
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