8:29 PM
Admin
Market Summary:
Singapore
shares open lower and traded on the lower side most of the day.
Singapore
share prices opened lower @ 3274.80 and then it starts fell down and
took support @ its lowest level for day @ 3251.61, after making this
low STI recovers some points and closed above 3260 levels @ 3261.77
with loss of 14.76 points down by 0.45%.
Volume
was 3.45 billion shares valued at S$1.58 billion. Losers led gainers
336 to 168.
Market
forecast:
STI
continuously falling after making its 5 year high @ 3320 mark in the
beginning of this week.
However
STI retrace some points from its recent high, but overall it’s
looking bullish on chart. as STI trading between the 61.8% to 78.6%
retracement level . So technically it’s good if STI will retrace
some points because for further move its will help.
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.
Support:
STI having
immediate support @ 3240 level and below this level it can take
support @3220-3200 will be the support zone for STI.
Resistance:
STI having
immediate Resistance @3285 and above this level it may take
resistance @ 3300-3315 levels.
Technical
indicators:
Technical
indicators are seems to overbought zone on charts.
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