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Singapore Daily Stock Market News

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Publish date: Wed, 25 Jan 2012, 08:00 PM
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Singapore Stock Market Review
Singapore equities opened higher on Wednesday after a long weekend, with the key Straits Times Index up 19.32 points or 0.68 per cent to 2,868.70.

Straits Time Index open above its 2860 level @ 2864.93 and then just made a low of 2860 and took support @ that level and then trades higher side and made a high of 2891.64 and finally closed @ 2891.64 with gain of 42.26 points up by 1.48%. Some 1.30 billion shares worth S$1.48 billion changed hands. Gainers outdid losers
265 to 126.
 
Singapore on Wednesday reported annual inflation of 5.5 % for December, slightly down from November's 3 year high of 5.7 %, but it warned that cost pressures will stay elevated for a few more months before easing.

Stock Market For Tomorrow
After long weekend markets flourish in the morning hours and continue the upbeat full day and finally closed @ day high 2891.64.

STI maintain itself above the 2860 mark all day and closed well above the major level @ 2860, STI made a high of 2891 very near to its 200 day MA level of 2893.61 so for the coming day if STI will maintain itself above 2895 levels then it will surely cross its previous high of 2910 where the STI facing resistance various time.

As we mention in our previous reports that STI forming a technical pattern and its reacting in the same way and now we expecting that it will touch the 2910 levels if sustains above 2895 level in the coming days.

STI Support Tomorrow
STI having nearest support @ 2860 and below this level it can take support @ 2840-2820 level is the major support level.

STI Resistance Tomorrow
STI having Resistance @ 2895 and above this level it may take resistance from 2910-2930 levels.

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