Daily Market Opinion for 30-Oct-2013

Quietness continues to loom the market yesterday as many continues to wait for catalyst to enter the market. STI was seen opening slightly lower yesterday and managed to gain some bullish momentum during the early trading session. However, when it hit a high of 3213 level, STI started to retrace. The selling pressure was so strong that it pushes STI to as low as 3198 level before attracting bargain hunters to enter the market.  The buying support was firm and this maintained STI to be above 3200 level. For this volatile day, STI still managed to close at 3208 level and ended flat with 0.97pts up. Can STI gain the bullish vibe today? Or will STI continue to test 3200 support level?

It was another day of consolidation for STI yesterday. 3200 support level held well again and this indicates that STI might ...