8/3/2019 Technical Report on STI - 23rd November 2011
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E X C H A N G E
TECHNIC AL
REPORTON
STI
2 3 r d N o v e m b e r , 2 0 1 1
8/3/2019 Technical Report on STI - 23rd November 2011
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STI fell slightly on today as the lack of progress in dealing with debt woes in Europe
and the United States weighed on investor confidence. Straits Times Index dropped
6.99 points or 0.26 per cent to 2,690.99. In the broader market, losers beat gainers 3
to 1 in a volume of 75.40 million shares valued at $54.70 million.
STI open with gape down @ its support level of 2690, and take U turn from that
support level and traders higher almost all the day and made a high of 2718.19, and
finally closed @ 2717.20 , above its Resistance level with gain of 19.22 points up by
0.71%.
Today market took support on its major support level of 2690.50 and turns from that
level and closed above its major resistance level of 2715 which was previously act as
a support level.
Still market trades below its 50 day MA level of 2747.14 and closed below this level,
but also closed in positive node.
Market has not strength for upside and with this reason market slowly coming
down side and making new lower levels day by day and with this it will be looking
more bearish is the near term .
For the coming days STI should maintain its 2715 level and if it will sustains below
this level than we can expect more down side.
Technical Indicators are bearish MACD gave its bearish crossover, RSItrading below its centre point of 50 @ 42.27
Figure: 1, Period: Daily
Support 1
Support 2
Support 3
Resistance 1
Resistance 2
Resistance 3
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STI having nearest support @ 2680 and below this level it can takesupport @ 2650-2620 level is the major support level.
STI having Resistance @ 2725 and above this level it may takeresistance from 2745-2775 levels.
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STRAITS TIMELEVELS
TECHNICAL VIEW
MARKET REVIEW SUPPORT
MARKET FORECAST
RESISTANCE
TECHNICAL INDICATORS
2650
2620
2725
2745
2775
2680
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