MARKET REVIEW
STI plunge more than 100 points today's trade and breached all the decisive support levels and closed below major support level of 2965 @ 2946.08.
STI opens with 21 points of gap and made a low of 2932.35 and consolidate day long between 2960-2940 levels and finally closed @ 2946.08 with loss of 84.78 points down by 2.80%
MARKET FORECAST
STI breached its up slopping trend line today i.e. 3025 level on daily graph and also break all the immediate support level too and closed below major Support level of 2965 @ 2946.08.
STI took support just above its 61.8% and 76.4% Retracement level Daily & Weekly charts respectively, as we told previously that if STI breached its 61.8% retracement level on weekly chart than it can move 100-150 points down side.
SUPPORT
STI having strong support @ 2920 which is its 61.8% Retracement level if STI breached this level than it can go for 2885-2855 level.
RESISTANCE
STI having Resistance @ 2975 and above this level 3005-3035 will be the major resistance zone for STI.
STI plunge more than 100 points today's trade and breached all the decisive support levels and closed below major support level of 2965 @ 2946.08.
STI opens with 21 points of gap and made a low of 2932.35 and consolidate day long between 2960-2940 levels and finally closed @ 2946.08 with loss of 84.78 points down by 2.80%
MARKET FORECAST
STI breached its up slopping trend line today i.e. 3025 level on daily graph and also break all the immediate support level too and closed below major Support level of 2965 @ 2946.08.
STI took support just above its 61.8% and 76.4% Retracement level Daily & Weekly charts respectively, as we told previously that if STI breached its 61.8% retracement level on weekly chart than it can move 100-150 points down side.
SUPPORT
STI having strong support @ 2920 which is its 61.8% Retracement level if STI breached this level than it can go for 2885-2855 level.
RESISTANCE
STI having Resistance @ 2975 and above this level 3005-3035 will be the major resistance zone for STI.
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