Singapore SGX : STI Technical Review 23 July

Market Review for STI:
Share prices opened higher at 3327.54 with STI up 10.63 points. Consumer Confidence in Singapore remained stable at 98 index points in the Q2 of 2014, falling by just one point from the previous quarter. STI movement is seen exactly as per our predictions. Closing was observed at 3340.70.

STI Day Performance
Open	3327.54
High	3341.49
Low	3325.57
Close	3340.70
Change(Points)	+23.79
% Change	+0.72%
Volume	1656.4M
Rise	227
Fall	185
Unch	373

Market forecast for STI:
Property and service sector helped the index to move and the data came out to be positive which may result in further growth and the index may break the higher levels.

STI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3320	3300	3280	3350	3365	3380

Technical indicators:RSI is at 71.47 .CCI is at 192.77. Index is above the 20&50 days EMA.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
Olam Intl	2.53	2.85	Golden Agri-Res	0.55	-0.9
Global Logistic	2.78	2.21	CapitaMall Trust	2	-0.5
Jardine C&C	46.9	1.98	CityDev	10.42	-0.48
DBS	17.91	1.7	Sembcorp Marine	4.1	-0.24
ST Engineering	3.79	1.34	SPH	4.16	-0.24

Important Factor for today:-

• Singapore Exchange strengthens ties in India, opens liaison office in Mumbai on approval from the Reserve Bank of India.
• CONSUMER price inflation in Singapore eased more than expected to 1.8 per cent in June from 2.7 per cent in May, mainly on account of a more moderate increase in car prices.
• Capitamall Trust recorded a 6.3% rise in Q2 distribution per unit to 2.69 Singapore cents, up from 2.53 cents a year ago on higher rental and high occupancy rates.
• Frasers Centrepoint Trust reported a 6% rise in distribution per unit to 3.022 Singapore cents in the Q3 ended June 30.
• Suntec Reit announced a distribution per unit of 2.266 Singapore cents for its Q2 ended June 30, 2014, a slight increase from 2.249 Singapore cents a year ago, to be paid on Aug 22, 2014.