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STI Market Forecast for 11-Oct 2012
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Publish date: Wed, 10 Oct 2012, 08:42 PM
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In continuation of last 2 days fall it's a 3rd row fall of STI, STI opens below its support level of 3050-3040 and traded below this level.
STI breached its 50 day MA level of 3052.08 and made a low of 3031.50, closed near to lower level @ 3033.81 and still look bearish.
As STI had a major support @ its 50 day MA level but it did not sustain this level and fell below this and took support near to its one month lower level 3031 mark. Expecting more panic in coming days. Because bears were dominate bulls from higher levels.
Support Level
STI having nearest support @ 3020 level and below this level it can take support @ 2995-2975 will be the support zone for STI.
Resistance Level
STI having Resistance @3050 and above this level it may take resistance @ 3075-3090 levels.
Technical Indicators
Technical indicators are looked to loosing strength on charts.
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