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STI Market Forecast For week Ahead 05-09 Nov 2012
Your Advisor
Publish date: Mon, 05 Nov 2012, 12:22 PM
Your Advisor
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STI facing resistance @ its 3056-3060 levels and took support below 3020. STI breached its 7 week lower level this week and closed in negative mode.
On the daily graph STI closed well below its 50 day moving average and also the up slopping support line which will act as a resistance in coming days.
For the coming week STI look volatile to southern biased as it breached lower levels and closed below the Resistance zone , so if it will sustain below 3040 mark than it will be more bearish.
STI Support Level
STI having nearest support @ 3015 below this 3000-2980 will be the support area for market.
STI Resistance Level
STI having Resistance @ 3050 and above this level it may take resistance from 3065-3090 levels.
Technical Indicators
Technical indicators are looking bearish.
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