STI today opens near to previous support of 3020 @ 3019.12 and after that it was not sustain that level and breached our support level of 2990 and made a low of 2988.52 but closed above 3000 mark with recovery from day's low.
STI closed today just above its 3000 mark @ 3001.85, made a low of 2988.52 and finally closed with loss of 17.27 points down by 0.57%.
Market Forecast For Tomorrow-
Tomorrow when STI were breached its major support levels 1st its 61.8% retracement @ 3058.60 and 3055.56 which is its 200 Day MA level, then it formed a long bearish candle which denotes the bears are rules the market and in back of this today is also market follows a down trend and breached its support level and now it can move more 100-150 points from this level.
SUPPORT
As today STI made a low of 2988 but closed above 3000 mark so from this level STI still having major Support @ 2990 level and if STI can sustain this level than it can move more down side up to 2950-2920
RESISTANCE
STI having Resistance @ 3056 its 200 Day MA level and if sustains this than can go for 3070-3100
0 comments:
Post a Comment