Daily Market Opinion for 8-Nov-2013

STI had another of flat closing yesterday. The opening was buoyant by DJI’s strong closing on the previous night. But its bullishness got struck down after HSI opens with a negative note. Bullish sentiment slowly eased out during the day and eventually, STI enters the negative zone during the day. 3200 support level was then being tested and hit a low of 3198 level. The support held well and helps STI to close at 3202 level. With lacklustre trading volume, STI was down by a mere 3.19pts. Last night, DJI returned its previous day’s gains and close with 152.90pts down. Will STI get affected by DJI negative closing and break 3200 support level today?

STI failed to confirm its bullish signal yesterday. There was a sight of hope in the morning session but the bullishness failed to maintain. This could be a ...