SGX - Singapore Stock Market for Tomorrow

STI Review

Singapore equities opened higher, tracking overnight gains in US stocks, with sentiment boosted by reports that the International Monetary Fund was planning to increase its lending capacity to help countries cope with the euro zone debt crisis.

Straits Times Index added 20.27 points or 0.73 per cent to 2,815.67 in the opening and then it slips below the opening level buy took support @ 2805 levels above 2800 mark and in the midday added some points and trades higher side and made a high of 2818.90 and finally closed @ 2811.20 above the Resistance of 2810 and added 15.80 points closed up by 0.57%.

On a turnover of $666.7 million, a total of 748 million shares were traded where gainers outnumbered losers 241 to 86.

STI for Tomorrow

After a huge rally of 2 days back and as STI trading above its 2800 mark so today it was a ranging trading day.

STI maintain itself above the 2800 mark all day and closed above well above the major level @ 2811, today we saw a very range bound movement in the market which may be reason of coming up holidays or we can say it's a relax session after a huge rally.

Now if STI able to sustains above this 2792 levels as it opens above this today and hold 2800 mark whole day, then we expect that it can touch the 2900 mark soon. and on the other side if it will crossed this level and maintain below this then it seems little negative.

STI Support for tomorrow

STI having nearest support @ 2792 and below this level it can take support @ 2770-2750 level is the major support level.

STI Resistance for Tomorrow

STI having Resistance @ 2820 and above this level it may take resistance from 2840-2855 levels.

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Singapore Stock Market (STI) for Tomorrow - 25 May

MARKET REVIEW

After a freefall of last trading day, today STI was quite and having a range bound movement, but closed in positive node. STI opens @ 3110.48, than goes down and took support @ its lower level of 3105.32, and after that it made a high of 3121.66 , but finally closed @ 3113.09 with gain of 2.61 point up by 0.08%.

MARKET FORECAST

STI breaks all its support level of 100-50-200 day MA levels and today also it was trading below the resistance levels and can't even trade near

to resistance levels.

STI formed a short candle, which denotes very low movement in the market STI trades in very narrow range of 15 points in the whole day. Today is ranging move in STI and yesterday it breached its all major MA levels and today also it took support @ 3105 levels, if it will fails to recover from this level than it could be more bearish in coming days and we can see 100-150 points' correction from this level.

SUPPORT

STI having strong support @ 3090 @ its 50 week MA levels and below this level it can take support @ 3045-3010 levels.

RESISTANCE

STI having Resistance @ 3135 and above this level 3150-3170 will be the small and also major resistance zone for STI.

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Singapore Stock Market for Tomorrow

STI took support @ its 61.8% retracement level of 2920 and clime upwards today it's a good sign as this retracement level act like strong

level and as we told if STI takes Support above 2920 than chance are likely to move upward direction.

STI trading below its up slopping trend line and now for coming days this trend line i.e. 3035 level will be the act as a major Resistance level

so if the STI comes above this and maintain this level than only it will be come in the safe zone

After a breakout of up slopping trend line it is trading @ lower levels and also consolidating there but still not breaching the support level of 2920 if it breaks this level than it will be a cautious situation.

SUPPORT

STI having strong support @ 2920 which is its 61.8% Retracement level if STI breached this level than it can go for 2885-2855 level.

RESISTANCE

STI having Resistance @ 3005 and above this level 3035-3070 will be the major resistance zone for STI.

SGX Derivative Analysis

Trading on Singapore Exchange's derivatives and securities markets increased in February from a year earlier.

In the securities market:

- Securities turnover grew 32 per cent year on year to $31.5 billion with an SDAV of $1.7 billion.

- ETF trading tripled to $628 million from a year earlier. Five Asian sectoral ETFs were added in February, offering customers the region's most comprehensive suite of sectoral ETFs. The additions bring to 80 the total number of ETFs on SGX.

In the derivatives and commodities markets

- Derivatives volume was 5.2 million contracts, up 39 per cent from the previous year. The average daily volume was 300,493 contracts.

- Nifty index futures volume grew 55 per cent year on year to 1.1 million contracts while FTSE A50 futures activity continued to increase with volume of 221,729 contracts in February.

- AsiaClear volume in February doubled to 15,571 contracts from a year earlier.

- The OTC financial derivatives clearing business, which began in November, showed good traction with a notional US$24.2 billion of interest rate swaps cleared from the launch to end-February. In February alone, a notional US$10.2 billion of swaps were cleared.

New statistics added to this report include data on securities on loan under the CDP Securities Borrowing and Lending programme and trading statistics for LME-SGX metal futures.