Market Review:
STI recovers from its yesterday’s losses and closed with good recovery above 3135 level.
Technical view on STI
Market forecast:
STI opens with gap up @ 3131 level above its yesterday’s close, the gap window made by yesterdays close and todays open of almost 10 points.
Today STI formed a candlestick pattern called belt hold, which is a long white candle who does not have lower shadow but having a small upper shadow it opens low and closed near to day high as formed a small upper shadow. Belt Hold candle is a single candle which is highly bullish candlestick pattern.
For the coming days STI have to maintain above its 3120-3140 mark, if STI maintain this level then we can upside move soon, on the other side if it would not be able to maintain this than index can lose more.
Home-buying sentiment turns extra
cautious. According to Colliers International, overall private
residential property prices are expected to at most slip by 5% in
2014, following 2013’s moderated 1.2% increase.STI recovers from its yesterday’s losses and closed with good recovery above 3135 level.
Technical view on STI
STI Day Performance
|
|
Open
|
3131.33
|
High
|
3146.77
|
Low
|
3131.33
|
Close
|
3143.25
|
| Change(Points) |
+19.50
|
% Change
|
+0.62%
|
Volume
|
3423.3M
|
Rise
|
249
|
Fall
|
137
|
Unch
|
403
|
STI opens with gap up @ 3131 level above its yesterday’s close, the gap window made by yesterdays close and todays open of almost 10 points.
Today STI formed a candlestick pattern called belt hold, which is a long white candle who does not have lower shadow but having a small upper shadow it opens low and closed near to day high as formed a small upper shadow. Belt Hold candle is a single candle which is highly bullish candlestick pattern.
For the coming days STI have to maintain above its 3120-3140 mark, if STI maintain this level then we can upside move soon, on the other side if it would not be able to maintain this than index can lose more.
STRAITS
TIME LEVELS
|
|
Support 1
|
3120
|
Support 2
|
3105
|
Support 3
|
3090
|
Resistance
1
|
3155
|
Resistance
2
|
3175
|
Resistance
3
|
3195
|
Support:
STI having
immediate support @ 3120 level and below this level it can take
support @3105-3090 will be the support zone for STI.
Resistance:
STI having
immediate Resistance @3155 and above this level it may take
resistance @ 3175-3195
Technical
indicators:
Technical
indicators MACD, RSI and CCI are turning down.
| Top 5 Gainers | ||
| Scrip Name | CMP | %change |
| Jardine C&C |
39.4
|
4.84
|
| JSH 500US$ |
34
|
2.75
|
| JMH 400US$ |
55.87
|
2.53
|
| CapitaMall |
1.88
|
1.35
|
| SGX |
7.12
|
1.28
|
Top 5 Losers
|
||
| Scrip Name | CMP | %change |
| SIA Engg |
4.96
|
-0.6
|
| ComfortDelGro |
1.975
|
-0.5
|
| StarHub |
4.22
|
-0.47
|
| GLP |
2.94
|
-0.34
|
| ST Engg |
3.86
|
-0.26
|
IMPORTANT FACTORS:
Corporate
Action as on 16th January 2014
| Company Name | Type | Expiry Date | Record Date | Date
Paid/Payable |
Particulars |
| Westminster | EGM | ||||
| AIMSAMPI Reit | EGM |
Stock for
16th January 2013:
- HPH TRUST US$: stock is taking resistance @ 0.680 mark from 8 weeks this level is 50 day MA mark. If this will cross 0.68 marks then it will touch 0.750-0.800 in coming days.
- HPH TRUST US$ is in consolidation phrase after taking support at lower levels so indicators are already in bullish zone.
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