Weekly wrap of STI:
For the third week of February the STI still continues to be in uptrend & the trend seems to continue further as all the major resistance that we have forecasted in the last weekly report of 14 Feb 2014 has been broken positively for this week and our last weekly report hit accurately on our forecasted levels
As the uptrend start from 3048 the opening level at 17th Feb. and then the STI made the high of 3109.80 for this week and closed at 3099.93. For this week the market covered the movement of almost 65 points. Observing the candle & the chart formation the market has recovered from the downfall that came on 23 Jan 2014.

Macroeconomic factors:

• The Gross Domestic Production rate in Singapore was announced at 6.10% in the Q4 2013. The average growth rate for last 6 years was 5.56%
• Singapore's fourth-quarter home prices slid for the first time in almost two years to 72% to 565 units
• Australia based Seek Ltd world's largest online employment market place by revenue announced A$380.7million a 38% jump in turnover,
• Singapore government proposed Trans boundary Haze Pollution Bills with a criminal penalty of up to S$300,000
• Singapore Domestic wholesale trade increased 3.3% in Q4 Dec 2013, general wholesale trade sec made the largest growth of 32.7% for Q4 Dec 2013 On YOY basis.
• 8.6% of growth in new business formation in Singapore for the Q4 Dec 2013, around 14,500 new businesses was formed in Singapore.
• More over the week was full of results like Ezion Holding, Biosensors, Capitaland, etc that gave a good support to the recovery of the STI. Major sector supported by the volume were Service & Manufacturing.

Market Forecast for week ahead:
For continues 3rd week of winning strike, STI closed higher side with bullish outlook for coming week too.STI made week high above 3100 mark @ 3109.80 mark just below its 20 week MA level of 3014.
STI formed a long white candle as Index move low to high, STI opens lower and then it continuously cross resistance levels one by one and now trading near to 3100 level and if it shows same movement in next week we will see major resistance @ 3015 level.
For coming week STI may remain upside whenever it traded above 3050 mark, its major resistance will come @ 3115-3145 level. Also Singapore budget declaration will effect on coming week on Singapore equities.
STI Resistance:
STI having immediate Resistance @3115 and above this level it may take resistance @ 3145-3165
STI Support:
STI having immediate support @ 3070 level and below this level it can take support @3050-3020 will be the support zone for STI.

Technical Indicators:
Technical indicators MACD given its bullish crossover in Daily chart, RSI and CCI are trading in recovery mode, RSI is in oversold zone so we can expect recovery in it.
Corporate Action & Result Calendar as on 24th Feb 2014