STI not maintaining yesterdays gain and trades in negative zone and closed with little loss , it can’t able to cross its yesterdays higher level , facing resistance at that level.

STI formed a small candlestick pattern due to little movement in the market, market trades in a very narrow range of 15-20 points and closed in negative zone.

As market is in the down trend and global peers is also in weaker side, so we are not much bullish in the STI and also if it will sustains below 2650 mark then we feel that it can lose some 50-100 points more from this
level.

STI having nearest support at 2640 and below this level it can take support at 2610-2580 level is the major support
level and it is having Resistance at 2700 and above this level it may take resistance from 2725-2750 levels.

MARKET REVIEW

Today again STI made a high above 3200 mark but was not able to sustain this level and closed near to yesterday’s level.

STI opened below 3182.68 levels and then it made a high of 3201.18 in 1st half and after 2nd half it dragged down and made a low of 3179.67 above major support zone and finally closed @ 3184.99 with gain of 2.31 point up by 0.07%.

MARKET FORECAST

STI today made a high of 3201.18 and in previous days it made a high of 3206-3208, with these levels we can interpret that STI is not able to sustain its higher levels, day after day it made a high below its previous high and made a lower high on chart. But today it closed above its major support zone.

STI formed a candlestick with long upper shadow with small real body and very small lower shadow, because movement was good and closed near to previous closing level.

STI crossed its 3200 mark but was not able to sustain above this level.  If it sustain this level than we can expect more upward levels. Above 3200 the major resistance comes @ 3225.

STI is looking overbought on its daily graph, if we see the technical Indicators like MACD is its overbought condition and RSI also reverse from its higher levels.

SUPPORT

STI has strong support @ 3150 and below this level it can take support @ 3135-3110 levels.

RESISTANCE

STI has Resistance @ 3210 and above this level 3225-3250 will be small and also major resistance zone for STI.

TECHNICAL INDICATORS

Technical indicator MACD seems to be reverse and RSI seems to be took support @ up sloping trend line and closed @ 59.81.

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Orchard Parade Holding Ltd. looks good on weekly as well as daily graph; it is traded above its major Resistance of 1.55 level which is also its 100 day MA.

It Crossed its Resistance level of 1.55 and its now above its 100 day MA level so it looks bullish on charts and seems to go more upside so one can take long position above 1.58 level in it.

Orchard Parade Holding Ltd. having Resistance level @ 1.60-1.64 and 1.70 after our call it made a high of 1.60 which is its immediate Resistance level and if it will crossed than it can go for 1.64-1.70 and above this till 1.75-1.80 soon.

It has Support @ its previous resistance now Support of 1.55 levels and if it will cross this level than it can go for 1.50 too.

MARKET REVIEW

Today the market was very volatile as it traded in both the directions and closed above resistance level.

STI opened below 3171.83 levels and then it made a high of 3206.11 on 1st half and after 2nd half it dragged down and breached its major support level of 3170 and made a low of 3154.30 but finally closed @ 3182.68 with gain of 10.85 up by 0.34%.

MARKET FORECAST

STI today made a high of 3206.11 and day before yesterday it made a high of 3208.11 so now above 3200 level these levels will act as a major Resistance zone for market.

STI formed a candlestick with long upper and lower shadow and small real body, which denotes a good fluctuation in the market.

It crossed its 3200 mark but did not sustain above this level, when it will sustain this level then we can expect more upward levels, above 3200 the major resistance comes @ 3225.

STI looks overbought on its daily graph, if we see the technical Indicators like MACD is its overbought condition and RSI also reverse from its higher levels.

SUPPORT

STI have a strong support @ 3135 and below this level it can take support @ 3110-3080 levels.

RESISTANCE

STI have Resistance @ 3210 and above this level 3225-3250 will be a small and also major resistance zone for STI.

TECHNICAL INDICATORS

Technical indicator MACD seems to be reverse and RSI seems to take support @ up sloping trend line and closed @ 59.41.

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MARKET REVIEW

STI closed @ its major support level of 3171.83 and was not able to sustain @ its higher levels.

STI opened below 3187.72 and this was the day high point and after that it went down and broke the support levels of 3170 and made a low of 3168.87 but finally closed near to day’s low of 3171.83 with loss of 15.89 points down by 0.50%.

MARKET FORECAST

STI today made a high of 3187.72 the opening and high was the same level and closed near today’s low and its major support level @ 3171.83.

STI formed a long bearish candle stick pattern which is extremely bearish because its open level and high was same and after that it made a low and also closed @ days low which denotes that bears are on power.

STI crossed its 3200 mark but could not sustain above this level, if it sustain this level then we can expect it touching more upward levels, above 3200 the major resistance comes @ 3225.

STI looks overbought on its daily graph, if we see the technical Indicators like MACD is its overbought condition and RSI also reverse from its higher levels.

SUPPORT

STI have strong support @ 3140 and below this level it can take support @ 3110-3080 levels.

RESISTANCE

STI have Resistance @ 3200 and above this level 3225-3250 will be a small and also major resistance zone for STI.

TECHNICAL INDICATORS

Technical indicator MACD seems to be reverse and RSI seems to take support @ up sloping trend line and closed @ 57.58.

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Weekly Wrap of STI

After 10 weeks STI crossed its 3200 mark this week. After last weeks of very range bound movement STI breached its major support this week and also crossed its major resistance zone.

STI opened @ 3153.30 levels and maintained itself above the major Support zone of 100 Day MA, but broke this level and took support @ 50 day MA level of 3110.27 and after that it roared from that level and cross all the resistance and made a high of 3204.21 but closed below 3200 @ 3194.73 with gain of 41.43 points down by 1.31%.

STI crossed its major Resistance of 3200 after 10 weeks and also now it is near to its this 2011 years high.

Market Forecast for the Coming Week

STI opens @ 3153 levels and then it was taking support @ its major 100 day MA levels, but finally breached this level and then took support @ its 50 day MA level and finally able to cross its 3200 mark.

For next week STI look bullish on chart if it will sustain above its previous resistance level of 3170-3180 these are the very crucial levels for STI. If STI crossed its 3200 mark and maintain this level so we can say that it will soon made a new High.

On the other side of coin STI trading above the its 76.4% retracement levels on weekly graph and for this reason it will be consolidating between the range of 3200-2900 and whenever it will not able to sustains above 3225 levels , hard for it to maintaining the higher levels.

Coming week will be decisive week for STI to its further move so we suggest that be cautious in trading.

STI Resistance

STI having major resistance @ 3225 level above this level 3250-3280 will be the major Resistance for market.

STI Support

STI having strong support @ its 3135 level near to its 100 day MA level and below this level 3100-3065 will be the major support zone for market.

Technical Indicators

Technical Indicators not giving any clear indication as RSI trading above its centreline @ 56.30 and looking that it can give breakout @ its Rising Wedge pattern and MACD is about to positive crossover.

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MARKET REVIEW

STI closed with good gain after 4 days of down trend and closed almost on day’s high of 3165 levels.

STI opens below its 100 day MA level but after the lower opening it sustains its important resistance level and made a high of 3167.53 and finally closed @ 3165.80 with gain of 40.43 up by 1.29%.

MARKET FORECAST

STI maintained its major Resistance which was previous support of 100 day MA level @3137.10 and traded above this level closed near today’s high, but it did not touch the major Resistance of 3170.

STI formed a candlestick pattern which is itself reflecting bullish sentiments in the Market call white long candle opened on lower level of day and than continuous trending higher side and closed @ days high which reflects that bulls are in power.

As STI trading is in a same range for 2 weeks, so if it will maintain these higher levels thae it can go for more upside and if do not sustain then chances are high to breach support zone.

SUPPORT

STI is having strong support @ 3130 and below this level it can take support @ 3110-3080 levels.

RESISTANCE

STI have Resistance @ 3170 and above this level 3200-3225 will be the small and also major resistance zone for STI.

TECHNICAL INDICATORS

Technical indicator MACD seems to be reverse and RSI seems to be take support @ up sloping trend line and closed with recovery @ 59.02.

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MARKET REVIEW

In the 1st half STI was quite good, but it was under selling pressure in the second half of the trading day.

STI opened @ 3153.30 levels and then made a high of 3168.61, but was not able to sustain at higher levels and slipped and took support near to 100 Day MA level @ 3136.23 and finally closed @ 3144.38 with loss of 8.92 points down by 0.28%.

MARKET FORECAST

STI took support just below to its 100 day MA level @ 3136.23 , but closed above this level , from past 3 time it was taking support @ this level , so this will be the major Support zone for STI in coming days.

STI have a very tight range from past 4 days; it is taking support @ its 100 day MA level and facing Resistance @ 3170 -3180 level so whenever it will not break any either level it will be stucked in this range.

As we previously told that STI is trading above its 76.4% retracement levels and for this reason it will be consolidating between the range of 3200-2900 and whenever it will not be able to sustains above 3220 levels , it will be hard for it to maintain the higher levels.

SUPPORT

STI have a strong support @ 3130 and below this level it can take support @ 3100-3080 levels.

RESISTANCE

STI have a Resistance @ 3180 and above this level 3200-3225 will be the small and also major resistance zone for STI.

TECHNICAL INDICATORS

Technical indicator MACD seems to be reverse and RSI also coming down from its recent higher level but still above centreline of 50 @ 56.34.

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MARKET REVIEW

STI wiped out the losses of past two days and closed with gain above major resistance level.

STI opened and took support below its 100 day MA level of 3133.86 levels and then bounced back and made a high of 3179.17, but closed @ 3172.08 with gain of 34.08 points up by 1.09%.

MARKET FORECAST

STI took support @ its 100 day MA level and bounced back, and wiped all losses of past two days, and also it gave closing above 3170 @ 3172.08.

STI today managed to close above its major resistance of 3170 and also made a very strong support to 100 day MA level; it is a positive sign if it will maintain itself above this level.

STI is trading above the it’s 76.4% retracement level and for this reason it will be consolidating between the range of 3200-2900 and whenever it will not be able to sustain above 3220 levels , it will be hard for it to maintain the higher levels.

RESISTANCE

STI have a Resistance @ 3180 and above this level 3200-3225 will be the small and also major resistance zone for STI.

SUPPORT

STI have strong support @ 3130 and below this level it can take support @ 3100-3080 levels.

TECHNICAL INDICATORS

Indicators look some overbought.

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MARKET REVIEW

STI lost the string and closed down, it’s a second day on the line and today STI closed almost @ its 100 day MA level.

STI opened and it fall continuously throughout the day from its 3160.44 levels and made a low of 3127.05, but than finally closed with recovery of 11 points @ 3138 with loss of 22.44 points down by 0.74%.

MARKET FORECAST

STI closed almost at its 100 day MA level of 3137.29 @ 3138 level this was a previou act as a good Resistance level. STI did not maintain its higher levels of 3185 levels and again came back from there and took support @ 3127 levels.  Market is taking some correction or it may be consolidate at these levels.

STI is trading above its 76.4% retracement levels and for this reason it will be consolidating between the range of 3200-2900 and whenever it will not be able to sustains above 3220 levels , it will be hard for it to maintain the higher levels.

RESISTANCE

STI have Resistance @ 3170 and above this level 3200-3225 will be the small and also major resistance zone for STI.

SUPPORT

STI have strong support @ 3120 and below this level it can take support @ 3100-3080 levels.

TECHNICAL INDICATORS

Indicators looks some overbought.

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