Singapore Stock Market Picks for Tomorrow

STI Review of the Day
Singapore equity market opens gap down @ 2766.54. But close near to days high in line with other regional markets.

STI opens down @ 2766.54 and after gap down opening it fell more down and made a low of 2758.41 and took support @ that level and then trades higher and made a day high of 2796.75 and finally closed with gain of 14.47 points up by 0.52% wow basis.

Volume stood at 955.2 million shares valued at S$766.1 million, with advancing issues leading decliners by 178 to 153.

Stock Market for Tomorrow
Day start with bearish sentiments but suddenly change in the bullish mode and made high above the resistance level of 2796.75.

Today STI breached its previous week’s range of 2760-2792 and made low and high for the day beyond these levels and finally closed between the ranges.

STI facing strong resistance @ 2800 mark it not able to crossed this level and fell from near to that level, and took support near to 2760 levels. When it crossed either side then we can see further major move in the market.

STI Support for tomorrow
STI having nearest support @ 2755 level and below this level it can take support @ 2740-2720 will be the support
zone for STI.

STI Resistance
STI having Resistance @2795 and above this level it may take resistance @ 2810-2835 levels.

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SGX Today

Singapore shares got a boost on Thursday from an overnight rebound in US equities on an encouraging start to earnings season and improved investor sentiment after a European Central Bank policymaker said bondbuying was still an option to help Spain.

Straits Times Index added 13.20 points or 0.45 per cent to 2,959.64. and after opening it trades upwards and ultimately made a high of 2982.96 very near to its 50 day MA level and closed @ 2978.14 with gain of 31.70 points up by 1.08%.

On a turnover of $1.3 billion, 3.21 billion shares were traded where gainers outnumbered losers 238 to 142.

SGX Singapore Market Tomorrow

After yesterdays bearish move today STI recovers all the yesterdays’ losses and closed higher side but still below its 50 day MA level.

yesterday markets hits its support levels and closed on the lower level and today its took support that lower level and ended near to strong resistance of 50 day MA level of 2982.95 and closed lower than this.

STI trading below the 50 day MA level of 2983.71, and closed well below this level, now these 2982 levels will act major resistance for STI.

We think that investors have to adopt cautious approach towards any trade as the market is volatile and uncertain so to keep strict stop loss for any position.

STI Support

STI having nearest support @ 2965 level and below this level it can take support @ 2945-2912 level is the major support zone.

STI Resistance

STI having Resistance @ 2985 and above this level it may take resistance @ 2995-3010 levels.

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