8:50 PM
Admin
Market Reviews:
STI
continue the bullish rally and opens with gap also closed at high of
the day.
STI
opens @ 3151.40 with gap and just made day low near to opening price
i.e 3147.46. Today STI traded in only one direction that too upwards
and made day high @ 3181.72 and finally closed @ 3179.48 with gain of
59.18 up by 1.90%.
Some
3.6 billion shares, valued at S$1.72 billion were traded. Gainers
numbered 329 while losers numbered 178.
Market
forecast:
STI
crossed its 3150-3180 level in one day, which was expected to be
broken in coming day.STI opens above its tweezers top level i.e. 3136
formed in last week.
STI
formed a candlestick pattern called a
Rising Window, this
pattern formed because of gap up opening .
It
occurs when previous day’s high is below today's low, leaving a
hole on the daily price chart. The pattern appears in a rising price
trend, and it acts as a bullish continuation pattern. Rising windows
occur often, so you will find them on the charts, but the longer the
time scale, the more difficult it is to find one.
Support:
STI having
immediate support @ 3150 level and below this level it can take
support @3130-3110 will be the support zone for STI.
Resistance:
STI having
immediate Resistance @3185 and above this level it may take
resistance @ 3205-3235.
Technical
indicators:
Technical
indicators MACD, RSI and CCI all are looking in recovering mode.
Posts
