Daily Market Opinion for 1-Nov-2013

STI returned its previous day’s gain yesterday after US government decides to retain their tapering policies. The day opened with a gap down action which returned half of the previous day’s gain. There were efforts during the morning session to push STI back to 3230 level but it was being put down by the sellers. A high of 3227 level was made during this action. After lunch hours, selling pressure sets in further and pushed STI lower. During closing time, STI closed at its low at 3210 level and ended up with 19.77pts down for the day. Last night, DJI was seen trading down by 73.01pts. Will STI be able to hold its support level today? Will buying actions come into the market to push it back to 3230 level?

The bullish momentum by STI on the previous day was quickly being tampered ...