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STI
itself maintain above the 3200 mark and able to breached its 2 year
high on the closing basis. It is a bullish sign for coming days.
As
STI trading above its 61.8% retracement level and having
intermediate Resistance level @ 3270 mark so it made today 3269
level high, now we are looking further uptrend in the STI and can
touch the 3380 levels soon which is 78.6% retracement for STI.
For the
coming week STI look volatile, because it is trading above the last
2 years higher level of 3200 ,so can face some pressure to maintain
above this level and if hold itself above this than we can see the
3380 mark soon.
STI
Resistance:
STI
having Resistance @ 3285 and above this level it may take resistance
from 3310-3350 levels.
STI
Support:
STI
having nearest support @ 3220 below this 3195-3150 will be the
support area for market.
Technical Indicators
Technical indicators give the impression of being in overbought zone. MACD gives
bullish cross over and RSI move above its centreline area @ 70.56.
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