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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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