Monday, February 6, 2012
7:53 PM Your Advisor
Singapore Market Today
Singapore Shares rose 1.12 % in opening trade on 1 trading day of the week after better-than-expected jobs data from the United States pushed US stocks up on Friday. Tokyo and Seoul shares also opened more than 1% on Monday. Straits Times Index advanced 32.75 points to 2,950.70.
Singapore, among markets seen as relatively greater for global exposure, finished up 0.8 % on the day @ 2940.10. It rose as much as 1.4 % at one point in strong market turnover of nearly 2 times a 30-day average.
On a turnover of $1.97 billion, a total of 3.32 billion shares were traded where gainers outnumbered losers 338 to 125.
Singapore Market Tomorrow
Today STI crossed its 2950 levels and made a high of 2959.44 but closed below the 2950 level @ 2940.10.
As per the weekly chart it's closed above 50 week MA level of 2926.25 @ 2940.10 with good volumes, so we are expecting more bullishness in the market and STI could touch 3000 level soon.
As we mention in our weekly report that above 2930, it's challenging for STI to sustain this level and today STI crossed that level and opens above major resistance of 2950, so for this reason we are bullish in STI.
STI having nearest support @ 2930 and below this level it can take support @ 2910-2890 level is the major support level.
STI having Resistance @ 2960 and above this level it may take resistance from 2980-3000 levels.
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