9:05 PM
Admin
Market
Forecast for week ahead:
- After 3 weeks of uptrend, STI closed lower this week. But the positive thing it was maintain itself above 32oo mark.
- STI formed a candlestick pattern called The “Tweezer Top” is a moderately reliable, bearish, reversal candlestick formation consisting of two candles that are generally seen at the end of an uptrend. The first candlestick in the pattern is a rising white candle, while the second candlestick is a declining black candle. The Tweezer Top generally establishes a line of resistance at the high point of a weakening up trend and is often an indication the market is headed lower.
- If STI maintain above 3200 mark and breached its previous 2 weeks high then we expect upward in Index and if it will crossed 3180 and maintain below then bear will take charge in market.
STI
Resistance:
- STI having Resistance @ 3235 and above this level it may take resistance from 3265-3295 levels.
STI
Support:
- STI having nearest support @ 3180 below this 3140-3120 will be the support area for market.
Technical
Indicators:
Technical
indicators are giving positive impression.
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