Tuesday, December 25, 2012

STI Market outlook for Wed 26 Dec


Market forecast:
It was a short trading due to holidays, so the STI trades in a very narrow and closed with gain of 5.06 points near to high. 

STI having next hurdle @ 3180-3220 levels, STI trades above its 76.4% retracement level from its all time high of 3313 and low of 2521.95.

STI is in bullish phrase as it is trading above the resistance levels and if it will maintain above the 3110 mark it can move further upside.

Support:
STI having immediate support @ 3150 level and below this level it can take support @3120-3095 will be the support zone for STI.

Resistance:
STI having immediate Resistance @3180 and above this level it may take resistance @ 3200-3220 levels.

Technical indicators:
Technical indicators are seems to overbought zone on charts.

 
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