Daily Market Opinion for 27-Mar-2013

Daily Market Opinion for 27-Mar-2013

STI had a buoyant day yesterday as the fear on Cyprus starts to ease off after market participants digest the bailout news. STI managed to break its 3280 resistance level which it had failed to break it for the past few days. Despite a flat start in the opening session, buyers cautiously entered the market and slowly pushed the price higher during the morning session. The buying momentum came to a rest before the lunch hours as it flirts around 3280 level. With anticipation of the bullish opening of the European market, STI managed to break through 3280 level despite bearish closing by the HSI. Eventually, the positiveness remains till the end of the trading day. STI closed with 21.05pts higher which ended at 3288 level. Last night, DJI rallied with 111.90pts higher. Can STI continue its bullishness today? Or will STI revert …