9:18 PM
Admin
Market Reviews:
STI
continue the bullish rally on opening session , but as most of the
Asian stock markets were mostly lower in cautious trade on Wednesday,
as investors awaited the outcome of the Federal Reserve’s policy
meeting later in the session, amid expectations the central bank will
start tapering its USD85-billion-a-month bond-buying program.
STI
opens @ 3195.03 with and traded in very narrow range for the day,
after opening it made day low @ 3189.60 and then it recovers from
this level and made day high @ 3204.20. Finally closed @ 3193.85
with gain of 12.93 up by 0.41%.
Some
5.44 billion shares, valued at S$1.41 billion were traded. Gainers
numbered 282 while losers numbered 178.
Market
forecast:
STI
today crossed its 3200 mark and made high above this level near to
resistance of 3205, but closed below 3200 mark.
Today
STI made a Star candle it opens up and closed near to opening level
also the movement was very narrow which was helps to form this
pattern.
STI
from a 2nd
star candle in a row, which means STI having a potential to go up
side but the players are cautious about the recent recovery and they
are playing safe game with little movement.
Support:
STI having
immediate support @ 3180 level and below this level it can take
support @3150-3130 will be the support zone for STI.
Resistance:
STI having
immediate Resistance @3205 and above this level it may take
resistance @ 3235-3250.
Technical
indicators:
Technical
indicators MACD, RSI and CCI all are looking in recovering mode.
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