Thursday, February 7, 2013
9:53 AM Admin
In the beginning of the week STI crossed its 3300 mark but very second day its fell badly and now traded in the range if 3260-3282.
as we mention in our previous report that STI trading in an uptrend rising channel and also above its 61.8% retracement level, and faced Resistance of 3320 levels just above the previous one 3315.
STI having support @ its previous resistance level i.e. 3240 mark which is the lower level of channel and if STI crossed this level then we can see lower levels and 3220-3195 will act as a major support zone for STI.
STI having immediate Resistance @3285 and above this level it may take resistance @ 3300-3315 levels.
Technical indicators are seems to overbought zone on charts.