Daily Market Opinion for 25-Oct-2013

Daily Market Opinion for 25-Oct-2013

STI enjoyed a rebound yesterday as its support level at 3200 holds well. Market participants started to weight on the impact of China policy and decided that it will not affect the current economic climate in China. STI opened slightly down but it was quick to recover after hitting a low of 3199 level. Bargain hunters enter the market; pushing higher during the day. A high of 3221 was reached before STI decided to end at 3217 level. STI managed to make a gain of 13.15pts yesterday. Last night, DJI was seen trading higher with 95.88pts up. Will the bullishness of DJI help STI to head higher today? Or will the market take the cautious approach as today is Friday?

STI tested 3200 support level and it held very well yesterday. This indicates that the bullish underlying is holding firmly and STI is …