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STI Singapore Intraday Technical Outlook - 26-Nov

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Publish date: Mon, 25 Nov 2013, 09:05 PM
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Market Reviews:
STI index reversed from last week fall and closed with gain, near to resistance level of 3185.
Singapore shares open with gain @ 3185.62 that is also a day high and after opening high it fell down and made day low@ 3174.45 and took support at this level and closed near to opening @ 3180.65 with gain of 7.800 up by 0.25%.
Some 1.26 billion shares, valued at S$698.8 million were traded. Gainers numbered 173 while losers numbered 215
Singapore's inflation rate hit 2 % in October this year, up from 1.6 % the previous month. Cost of private road transport rose by 2.7% after declining by 2 % the previous month, Food inflation inched up to 2.5 % in October from 2.4 % in September, The rise in accommodation cost moderated to 1.9 % from 3.9 % the previous month.
STI Intraday Technical Chart
Market forecast:
STI closed just near to its 50 & 200 day MA level of 3185, it did not able to cross this mark on high side.
As we mention in our weekly report that STI forming a pattern according to that it is in lower to sideways movement, so whenever STI will not able to maintain it self above 3235-3265 . we will see the zigzag movement in the market.

Support:

STI having immediate support @ 3155 level and below this level it can take support @3135-3115 will be the support zone for STI.

Resistance:

STI having immediate Resistance @3195 and above this level it may take resistance @ 3215-3235

Technical indicators:

Technical indicators MACD, RSI and CCI are turning from lower.
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