Daily Market Opinion for 27-Nov-2014

STI managed to inch up a little despite a bearish start yesterday. The day started with a lower opening which attracted market participants to exit the market. Selling actions were seen in the morning session which caused STI to hit as low as 3330 level. As the support level at 3330 level was being tested, bargain hunters started to roam the market. This brought buying strength into the market to push STI back to its opening level. With positive leads from the China & HK market, buyers became confident and buy in further. This helps STI to close at its high and nearly testing its resistance level. STI closed at 3349.66 level by gaining 4.67pts yesterday. Last night, DJI gained 12.81pts. Can STI break its resistance level today and head for a higher level?

Yesterday’s price action shows that STI is reluctant ...