9:15 AM
Admin
Market Forecast for week ahead:
It’s a 4th straight week of continuous fall, from its recent high of 3464 mark; it sheds almost 370 points from that higher level.
STI breached its major support levels of 3150-3100, also traded lower from those levels. As STI trading below its 78.6% retracement level and next strong support comes @ 2972.009 which is 61.8% retracement level. So next major support comes at this level only.
We expect more down fall or halt in bearish move but no recovery expected when ever STI will not able to trade above 3250 mark.
STI Resistance:
STI having Resistance @ 3180 and above this level it may take resistance from 3215-3250 levels.
STI Support:
STI having nearest support @ 3110 below this 3080-3040 will be the support area for market.
Technical Indicators:
Technical indicators are giving Bearish impression.
| Support 1 | Support 2 | Support 3 | Resistance 1 | Resistance 2 | Resistance 3 |
| 3110 | 3080 | 3040 | 3180 | 3215 | 3250 |
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