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STI
closed its 7 week high level above 3300 mark @ 3308.1 levels. Took
support near to 3365 levels and recovers very well.
STI
formed a candlestick pattern called "opening
marubozu" is a type of candlestick characterized with a very long
body and no lower shadow. It has only a short upper shadow. This is
a strong bullish candlestick pattern.
This
shows that the day opened and then the prices continued to go up all
day long without coming below the opening level thus forming a long
white body, however prices did not close at the high of the day and
thus they created an upper shadow. It is a typical bull day and
strength of the bulls is enough to cause some concern among the
bears. A White Opening Marubozu, on the other end, does not show as
much bullish strength as in the case of White Marubozu.
STI trading in a
consolidation phrase between the ranges of 3220-3320 levels, either
side breakout will give the clear move for coming days.
STI
Resistance:
STI
having Resistance @ 3320 and above this level it may take resistance
from 3335-3350 levels.
STI
Support:
STI
having nearest support @ 3260 below this 3240-3220 will be the
support area for market.
Technical
Indicators:
Technical
indicators are giving bullish impression.MACD looking good.RSI
trading above its centreline @ 67.336 and CCI also turning upwards
and trading at 79.92.
Support 1
Support 2
Support 3
Resistance 1
Resistance 2
Resistance 3
3260
3240
3220
3320
3335
3350
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