TECHNICAL VIEW
MARKET REVIEW
It was a bad opening in the new week STI closed down after 8 days of consecutive rally, but still closed above major support level.
STI opens on higher side @ 3187.31 but cant sustains these levels and slide and took support @ 3155.59 levels, and finally closed almost
near to days low @ 3160.44 with loss of 26.87 points down by 0.84%.
MARKET FORECAST
STI closed near to day's low of 3155.59 @ 3160.44 it took support @ major support area but still it was nor recovers and closed near to day
low.
as we told in our previous reports that STI have to maintains its higher levels for going more upside and have to hold itself above 3225, if it
will not sustains 3180-3225 than it can be in down trend.
STI retrace from its 76.4% retracement levels and heading towards its all time high level and for this reason only it is consolidating these
major support and resistance levels.
STI SUPPORT
STI having strong support @ 3140 which is multiple resistances previously now act as a support and below this level it can take support @
3110-3085 levels.
RESISTANCE
STI having Resistance @ 3190 and above this level 3225-3250 will be the small and also major resistance zone for STI.
TECHNICAL INDICATORS
Indicators looking some overbought but still not losing the strength..... CLICK HERE FOR MORE
MARKET REVIEW
It was a bad opening in the new week STI closed down after 8 days of consecutive rally, but still closed above major support level.
STI opens on higher side @ 3187.31 but cant sustains these levels and slide and took support @ 3155.59 levels, and finally closed almost
near to days low @ 3160.44 with loss of 26.87 points down by 0.84%.
MARKET FORECAST
STI closed near to day's low of 3155.59 @ 3160.44 it took support @ major support area but still it was nor recovers and closed near to day
low.
as we told in our previous reports that STI have to maintains its higher levels for going more upside and have to hold itself above 3225, if it
will not sustains 3180-3225 than it can be in down trend.
STI retrace from its 76.4% retracement levels and heading towards its all time high level and for this reason only it is consolidating these
major support and resistance levels.
STI SUPPORT
STI having strong support @ 3140 which is multiple resistances previously now act as a support and below this level it can take support @
3110-3085 levels.
RESISTANCE
STI having Resistance @ 3190 and above this level 3225-3250 will be the small and also major resistance zone for STI.
TECHNICAL INDICATORS
Indicators looking some overbought but still not losing the strength..... CLICK HERE FOR MORE
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