Wednesday, February 8, 2012
8:32 PM Your Advisor
SGX Today Market Review
Shares were little changed in opening trade on Wednesday after Greece delayed a decision over the unpopular terms of a new European bailout, taking the edge off investors' appetite for fresh gains.
STI opens up @ 2,962.54 with gain of 4.79 points and trades higher but comes down and took support@ 2957.78 level and then trades up side and made a high of 2985.98 and finally closed near to day high @ 2982.20 with gain of 24.42 points up by 0.83%.
On a turnover of $2.11 billion, a total of 3.33 billion shares were traded where gainers outnumbered losers 373 to 109.
Singapore Market Tomorrow
STI trades higher side and looking like it will soon crossed 3000 mark , today trades higher and made a high of 2985.98 and closed near to day's high @ 2982.20.
As we mention in our previous reports that STI trading @ its technical pattern and above its multiple resistance level of 2912 so it could be bullish and touch the level of 3k or above and at this point STI looking more bullish and can go for .
STI maintaining itself above 2950 levels and as we mention in our weekly report that above this level it can be more bullish and we expect further upward movement till 3000-3050 if maintain above 3000 mark.
STI having nearest support @ 2960 and below this level it can take support @ 2940-2920 level is the major support level.
STI having Resistance @ 3000 and above this level it may take resistance from 3020- 3050 levels.
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