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Today Market Review for SGX

Shares opened stronger today following forecast-beating results by some major US companies, which drove the rally in Wall Street overnight.

Singapore index Straits time open above its 3000 mark @3004 and made a high of 3007.61, after open high STI consolidate whole day and made a low of 2995.59 and finally manage itself to close above the 3000 mark @ 3000.58 with gain of 13.99 points up by 0.47%.

Volume was 1,666.7 million shares worth S$1.03 billion. Gainers outnumbered losers 228 to 162.  Singapore's index rose by midday, supported by a gain in Singapore Exchange Ltd after the bourse reported a better than expected result.

SGX Stock Market Tomorrow

After yesterdays bearish move today STI recovers all the yesterdays’ losses and closed higher side above its 50 day MA level of 2987.09.

STI opens up with gap and sustains the level of opening. So for the coming days if it sustains above 3000 mark than we expects that it will go the next resistance level of 3035 and sustains this.

STI is trading in a consolidation phrase and its range is 2940-3035, so whenever it will not crossed either side we can’t expect any big move.

STI Support

STI having nearest support @ 2985 level and below this level it can take support @ 2965-2945 level is the major support zone.

STI Resistance

STI having Resistance @ 3015 and above this level it may take resistance @ 3035-3050 levels.

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SGX Singapore Market Review

It was another great week for STI, awaiting decision of Greece bailout and also Singapore Friday announces annual budget of Singapore for year ended March 2011.
 

STI starts for the week with flat node due to mix sentiments and then it fell down and took support @ 2952 levels near to weekly support of 2950 and then it take a U turn and climb higher levels and crossed its 3000 mark and made a weekly high of 3014.76 and finally closed exact the 3000 mark with gain of more than 1% of @ 3000.59 up by 1.37% wow basis.

Week ended on positive node above 3000 mark @ its 8 month high level after June 2011. Sentiments were bullish.

SGX Stock Market Tomorrow

STI ended above the 3000 mark which was a major resistance and psychological level. It was a hurdle for market to cross this level and trades above this level.

This week STI crossed its technical patterns higher level of 2995 which was major résistance for market and since last 8 months market cant able to cross this level, but with some positive sentiments market breached and sustains above 3000 mark.

On the weekly charts it's still looking positive and we expect that it can able to sustains these higher level and also if it will sustains this then it can cross its 52week high. 

On the other side , We suggest take cautious approach in the market because as we know market traded @ its higher levels so one can remain long with strict stop loss of 2950 in the markets.

STI Support

STI having immediate support @ its 2995 levels and below this level 2950-2920 will act as a major Support zone for market.

STI Resistance

STI having immediate Resistance @ 3025 which is good Resistance and above this level 3040-3065 will be the higher zone for market.

Technical Indicator

Technical Indicators are looking bullish as MACD and Stochastic is giving its bullish crossover and RSI trading above to centreline of 50 @ 60.46.

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