9:05 PM
Admin
Market Reviews:
STI index reversed from last week fall and closed with
gain, near to resistance level of 3185.
Singapore shares open with gain @ 3185.62 that is also a
day high and after opening high it fell down and made day low@
3174.45 and took support at this level and closed near to opening @
3180.65 with gain of 7.800 up by 0.25%.
Some 1.26 billion shares, valued
at S$698.8 million were traded. Gainers numbered 173 while losers
numbered 215
Singapore's inflation rate hit 2 %
in October this year, up from 1.6 % the previous month. Cost of
private road transport rose by 2.7% after declining by 2 % the
previous month, Food inflation inched up to 2.5 % in October from 2.4
% in September, The rise in accommodation cost moderated to 1.9 %
from 3.9 % the previous month.
 |
| STI Intraday Technical Chart |
Market forecast:
STI closed just near to its 50 &
200 day MA level of 3185, it did not able to cross this mark on high
side.
As
we mention in our weekly report that STI forming a pattern according
to that it is in lower to sideways movement, so whenever STI will not
able to maintain it self above 3235-3265 . we will see the zigzag
movement in the market.
Support:
STI having
immediate support @ 3155 level and below this level it can take
support @3135-3115 will be the support zone for STI.
Resistance:
STI having
immediate Resistance @3195 and above this level it may take
resistance @ 3215-3235
Technical
indicators:
Technical indicators MACD,
RSI and CCI are turning from lower.
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