technical report on sti - 24th november 2011

8/3/2019 Technical Report on STI - 24th November 2011

1/3

Global Research L imi ted

SPECIAL REPORTwww.capitalvia.com.sg

SINGAPORE

E X C H A N G E

TECHNICAL

REPORTON

STI

2 4 t h N o v e m b e r , 2 0 1 1


2/3

Shares started weaker on Wednesday, following losses on Wall Street overnight as

investors remained concerned over Europe's worsening debt crisis and data showed

the US economy grew at a slower than expected pace in the third quarter.

STI open with gape down below its 2700 mark @ 2697 and then made a low of

2666.54 and took support @ that level and turns from there, finally STI closed

below the support level of 2680 @ 2676.57 with loss of 40.63 points down by

1.50%.

STI breached its 2680 level and took support @ 2666 levels and closed below the

support level of 2680, which is bearish sign for market.

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 .

As day by day market making new lows and cross its major support levels , now for

the coming days if market sustains itself above 2715 level then it can move upside

otherwise there is nothing like positive in the market.

Technical Indicators are bearish MACD gave its bearish crossover, RSI

trading below its centre point of 50 @ 38.31

Figure: 1, Period: Daily

Support 1

Support 2

Support 3

Resistance 1

Resistance 2

Resistance 3


SINGAPORE

E X C H A N G E

STI having nearest support @ 2650 and below this level it can take

support @ 2620-2600 level is the major support level.

STI having Resistance @ 2690 and above this level it may take

resistance from 2715-2745 levels.

SPECIAL REPORT www.capitalvia.com.sg

STRAITS TIMELEVELS

TECHNICAL VIEW

MARKET REVIEW SUPPORT

MARKET FORECAST

RESISTANCE

TECHNICAL INDICATORS

2620

2600

2690

2715

2745

2650


3/3

Investment in equity shares has its own risks.Sincere efforts have been made to present the right investment

perspective. The information contained herein is based on analysis and up on sources that we consider reliable. We,

however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and

we are not responsible for any loss incurred based upon it & take no responsibility whatsoever for any financial

profits or loss which may arise from the recommendations above. The stock price projections shown are not

necessarily indicative of future price performance. The information herein, together with all estimates and

forecasts, can change without notice. We does not purport to be an invitation or anoffer to buy or sell any financial

instrument. Any surfing and reading of the information is the acceptance of this disclaimer. All Rights Reserved.

Disclaimer


SINGAPORE

E X C H A N G E

SPECIAL REPORT www.capitalvia.com.sg

technical report on sti - 24th november 2011

Documents