Singapore SGX : STI Daily Technical Outlook 07 Aug

Market Review for STI:
Share prices opened lower with the Straits Times Index down 6.27 points to 3,316.35. South Korean stocks eased and the won was little changed on Thursday as most investors stayed on the sidelines ahead of key central bank policy meetings in the European Union, UK and Japan. The close for the day was observed at 3314.22, formed a red doji for the day.

STI Day Performance
Open	3316.35
High	3319.57
Low	3304.57
Close	3314.22
Change(Points)	-6.010
% Change	-0.18
Volume	1711.4M
Rise	157
Fall	249
Unch	703

Market forecast for STI:
STI was down today formed a red doji which shows indecision. We may expect bullishness if it takes proper support on level of 3300.

STI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
3280	3260	3250	3340	3350	3360

Technical indicators:
RSI is at 49.99 and CCI is at -26.12.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
Global Logistic	2.74	1.11	Jardine C&C	44.97	-2.15
CapitaMall Trust	1.975	1.02	HPH Trust USD	0.685	-1.44
CityDev	10.12	0.9	Noble	1.37	-1.44
Ascendas Reit	2.31	0.87	Sembcorp Ind	5.34	-1.29
ThaiBev	0.635	0.79	DBS	18.14	-1.25

Important Factor for today:-

• HDB resale prices dropped for the sixth consecutive month in July, data compiled by the Singapore Real Estate Exchange (SRX) shows.
• Vallianz Holdings, the provider of offshore support vessels and integrated marine solutions to the oil and gas industry, today reported a doubling of net profit to US$5.8 million for the second quarter ended 30 June 2014 (2Q2014) from US$2.8 million in 2Q2013.
• TEE International, the engineering and real estate group, said it won a total of $60 million worth of contracts to carry out mechanical and electrical works for the The Parisian Macao, located at the Cotai Strip in Macau.
• Singapore Airlines Ltd.’s budget carrier Scoot doesn’t want to use the city’s new airport terminal and regards the $1.28 billion facility as a “folly”.