SGX Nifty Tomorrow - 11 May

MARKET REVIEW

With the previous days big up move STI today also give good movement and closed above Resistance area. STI opens above 100 day Ma level and after that made a low of 3130.45 but took support @ that level and after that made a high of 3164.98 near to major Resistance zone of 3170, but finally closed @ 3156.64 with gain of 19.32 points up by 0.62%

MARKET FORECAST

As yesterday STI closed above its 100 day MA level and formed a highly bullish candlestick so with these positive biased STI today gives a good movement and closed above its good Resistance level.

STI manage to maintain it's self above its 100 day MA level of 3135.34 and also made a high near to its major and multiple resistance as well as support zone of 3170 @ 3164, but closed below the day's high and with this movement formed a long white Candlestick pattern. As previously STI can face resistance @ 100 day MA level and as today if it will sustains this level and it can go higher side.

SUPPORT

STI having strong support @ 3120 and below this level it can take support @ 3090-3070 levels.

RESISTANCE

STI having Resistance @ 3170 and above this level 3190-3210 will be the small and also major resistance zone for STI.

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Singapore Stock Market(STI) Tomorrow

Singapore Stock Market Tomorrow
As we told in our weekly report that STI trading @ its up slopping trend line and trying to maintain itself above this trend line and today also
it were closed above this trend line and not sustains below this which is good sign of recovery, If STI will maintain this level than it can go
upwards and if it can't sustains and we can see more down trend in the market.

Support for STI
STI having strong support @ 2985 level if STI breached this level than it can go for 2965-2945-2920 level soon as STI having its 76.40%
retracement level @2921 level so this level will act as a strong support zone for Market.

Resistace for STI
STI having Resistance @ 3035 which is a good Resistance zone as STI were not able to sustain this level from past 2 days and if sustains than
next higher level comes @ 3070-3100.

Market Forecast for Next week

Market Forecast For Week Ahead

• STI were trading above the up sloping trend line and it breached this line last week and trade below this level continuous 2-3 days but finally closed near to this level of 3022.
• STI breached its 50 week MA level of 3032.32 and after that it made a low of 2965 levels and finally closed above its up slopping trend line and near to its MA level.
• For the coming week if STI trading above this 3018and 3032.32 its 50 day MA level than it will reverse from this level but it will not able to sustains its higher levels than it
• can took support @ its 61.8% retracement level of 2925.61 level.

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STI Market for Today

STI Market Review

STI today opens near to previous support of 3020 @ 3019.12 and after that it was not sustain that level and breached our support level of

2990 and made a low of 2988.52 but closed above 3000 mark with recovery from day's low.

STI closed today just above its 3000 mark @ 3001.85, made a low of 2988.52 and finally closed with loss of 17.27 points down by 0.57%.

STI Today

Tomorrow when STI were breached its major support levels 1st its 61.8% retracement @ 3058.60 and 3055.56 which is its 200 Day MA

level, than it formed a long bearish candle which denotes the bears are rules the market and in back of this today is also market follows a

down trend and breached its support level and now it can move more 100-150 points from this level.

Support for STI - As today STI made a low of 2988 but closed above 3000 mark so from this level STI still having major Support @ 2990 level and if STI can

sustain this level than it can move more down side up to 2950-2920

Resistance for STI - STI having Resistance @ 3056 its 200 Day MA level and if sustains this than can go for 3070-3100