MARKET FORECAST
STI cant able to sustains above 3300 mark longer and again fell below this @ 3300 and today closed @ 3279.50 levels.
After making recent high @ 3317.42, STI formed candlestick Pattern shooting start and this candle denotes weakness in the market and shows that bears hold the power and that true as after that its 2nd day where STI traded at lower levels.
Again STI trading between the slopping lines, and now it is having support @ 3250-3220 levels and for higher levels it's necessary for STI to maintain itself above 3320 mark.
STI Intraday Support Levels
STI having immediate support @ 3265 level and below this level it can take support @3250-3220 will be the support zone for STI.
STI Intraday Resistance Levels
STI having immediate Resistance @3300 and above this level it may take resistance @ 3320-3335 levels.
Technical Indicators
Technical indicators MACD, RSI and CCI all are in recovery mode with today's move. As we can see in the chart, RSI trading above its centreline @ 51.77 but CCI crossed its -100 level and closed @ -5.255 which is bearish signal.
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