SGX SINGAPORE (STI LEVELS ) 22 march

MARKET REVIEW

After a lacklustre week, STI starts its new week with bang and closed positive with good amount of gain almost on days high.

STI opens @ 2935.78 and from there it was continue trading upwards and made a high of 2990 level just above our major resistance level

and finally closed @ 2983.51 with gain of 47.73 up by 1.63%

MARKET FORECAST

STI took support @ its 61.8% retracement level of 2920 and clime upwards today it's a good sign as this retracement level act like strong

level and as we told if STI takes Support above 2920 than chance are likely to move upward direction.

STI trading below its up slopping trend line and now for coming days this trend line i.e. 3035 level will be the act as a major Resistance level

so if the STI comes above this and maintain this level than only it will be come in the safe zone .

After a breakout of up slopping trend line it is trading @ lower levels and also consolidating there but still not breaching the support level of

2920 if it breaks this level than it will be a cautious situation.

STI SUPPORT

STI having strong support @ 2920 which is its 61.8% Retracement level if STI breached this level than it can go for 2885-2855 level.

STI RESISTANCE

STI having Resistance @ 3005 and above this level 3035-3070 will be the major resistance zone for STI..... CLICK FOR FREE SUBSCRIPTION