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Straits Times Index - Market Outlook for 21 Nov 2012

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Publish date: Tue, 20 Nov 2012, 08:20 PM
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Following Message

STI opens high with good gap @ 2967.08 and then made a high of 2973.24 , after making day high it traded in a range, in a second half STI breached its 2963 levels fell down and took support @ 2953.43 levels. Finally closed @ 2958.82 with gain of 7.89 points up by 0.27%. Volume was 2.21 billion shares worth S$1.31 billion. Gainers outnumbered losers 199 to 179.


Singapore share touched its 200 day MA level of 2974.39 but closed below this level. From last 2 days movement seems that recovery was due as recently market fell badly.

STI trading above 2950 mark today which is good recovery sign, if it will sustain above this level then shortly will see more upside trading in STI.

STI Support Level

STI having nearest support @ 2940 level and below this level it can take support @ 2920-2900 will be the support zone for STI.

STI Resistance Level
STI having Resistance @2960 and above this level it may take resistance @ 2980-2995 levels.

Technical Indicators
Technical indicators are seem to recover from lower levels on charts.


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