9:17 PM
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Market Reviews:
Singapore's key Straits Times Index was up 0.7% at 3,230.44, its highest close in almost six weeks, amid late buying.
STI opens with little gap @ 3215.29 and then it made day low @ 3204.48 and took support at that level and reached days high @3230. 44 level and closed on same level with gain of 21.60 up by 0.67%.
Some 3.04 billion shares, valued at S$1.19 billion were traded. Gainers numbered 181 while losers numbered 280.
Market forecast:
Today STI closed its 6 week high mark, i.e @ 3230 near to resistance level. We may expect that it will cross and maintain this high in coming days.
After 10 days of range bound movement STI crossed and closed on higher levels which is positive sign for market, similarly investor have to adopt some cautious approach whenever STI will not cross and maintain 3235 level.
On daily chart of STI, its 200 day and 50 day EMA levels are about to cross each other and its will be a bullish crossover.
Support:
STI having immediate support @ 3210 level and below this level it can take support @3195-3165 will be the support zone for STI.
Resistance:
STI having immediate Resistance @3235 and above this level it may take resistance @ 3250-3280
Technical indicators:
Technical indicators MACD, RSI and CCI are looking bullish from this level as CCI trading above its +100 mark@ 105.73, RSI trading above centreline @63.93 and MACD also having a bullish move.
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