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SGX Singapore Stock Market News
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Publish date: Tue, 14 Feb 2012, 08:09 PM
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Singapore Stock Market Review
Singapore Shares started little changed on Tuesday ahead of a euro zone finance minsters' meeting this week to approve a second bailout for Greece.
On the back of yesterdays gain and positive biasness from euro zone Straits Times Index open flat and then fell down and took support @ 2955.98 levels and in the second half market recovers and made a high of 2988.13 and finally closed near to days high of 2987.41 with gain of 11.07 points up by 0.37%.
Volume was 2.11 billion shares worth $1.48 billion. Losers led gainers 233 to 185.
Singapore Stock Market For Tomorrow
In the last few session STI facing resistance @ its 2995-3000 level as it is a major resistance for psychological level of 3000, and trades lower but in this week it holds itself above 2950 levels.
STI today closed near to resistance of 2985 and as it closed @ higher levels and overall market sentiments are bullish we expect that it can cross its 3000 mark soon and sustains above that level.
On the other side of coin STI having a major support zone @ 2940-2950 if STI sustains above this level than it can move towards higher side and other way if it crossed this level then again it repeat few days back trend and goes down.
Support of STI
STI having nearest support @ 2965 and below this level it can take support @ 2950 levels and 2930 is the major support level.
Resistance of STI
STI having Resistance @ 2995 and above this level it may take resistance from 3005-3020 levels.
Technical Indicator
Technical indicator MACD and RSI support the positive side movements in STI. RSI is looking over bought, but taking support from level of 70, it closed on 71.76, so STI may continue the rally. MACD also closed above the signal line, positive biasness can be seen technically.
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