8/3/2019 Technical Report on STI - 18th November 2011

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TECHNICAL

REPORTON

STI

1 8 t h N o v e m b e r , 2 0 1 1

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Stocks started lower on Thursday after France and Germany, the euro zone's two

central powers, clashed over whether the European Central Bank should intervene

more forcefully to halt the zone's accelerating debt crisis.

STI open with gape down but took support yesterdays lower level and move

upwards and made a day high of 2807.44 but cant able to cross its resistance level

and again fell below 2800 mark and made finally closed @ 2778.25 near to lower

levels with loss of 29.19 points down by 1.04%.

Today market closed below its 2800 mark, and also at its lower levels which is

bearish sign for coming days.

Market has not strength for upside and with this reason market slowly coming

down side as it is not able to cross its major resistance levels.

Market is making new lower levels day by day and with this it will be looking more

bearish is the near term whenever it will not sustaining the higher level for 2885-

2915.

STI is not able to cross its support level of 2750 and major Resistance level of 2910,

whenever it will not cross the either levels, prediction of any direction is not

possible.

Technical Indicators are bearish MACD gave its bearish crossover, RSI

trading below its centre point of 50 @ 48.01.

Figure: 1, Period: Daily

Support 1

Support 2

Support 3

Resistance 1

Resistance 2

Resistance 3

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STI having nearest support @ 2770 and below this level it can take

support @ 2745-2715 level is the major support level.

STI having Resistance @ 2835 and above this level it may take

resistance from 2865-2890 levels.

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STRAITS TIMELEVELS

TECHNICAL VIEW

MARKET REVIEW SUPPORT

MARKET FORECAST

RESISTANCE

TECHNICAL INDICATORS

2745

2715

2835

2865

2890

2770

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