MARKET REVIEW
STI opens above 3000 @ 3001.85 after that made a high of 3006.58 but can not sustains there and in continuation of past 3 days it were make a low of 2965.24 and after that closed @ 2973.08. STI breached its support level of 2990 and close for the day @ 2973.08 after making a low of 2965.24 finally lose 28.77 points down by 0.96%.
MARKET FORECAST FOR TOMORROW-
STI trading in a down trend and it were taking support @ its up sloping trend line, but today it breached this trend line and closed below this , as STI breached its major support levels 1st its 61.8% retracement @ 3058.60 and 3055.56 which is its 200 Day MA level, and today it were closed below its 2990 level and still looking bearish.
SUPPORT
STI made a low of 2965.24 below its major support level of 2990 and above 2950, and now from this level its next support comes @ 2950 and if it will sustains this level than it can move towards 2920-2890 level soon.
RESISTANCE
STI having Resistance @ 2990 which is its previous support level and above this 3016-3050 will be the Resistance zone for the market.
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