After a weeklong consolidation, finally STI crossed its major Resistance level of 3072 and also maintained this level. From past few trading sessions as it was not able to sustain this level, besides that STI today traded above this level and closed its 3100 mark too.
STI is having its 200 day MA level of 3072.07; today STI sustained this level and closed well above this level, so now we can say STI is looking bullish on charts and expects 100-150 points gain from this level.
RESISTANCE : STI have a Resistance @ 3118 which is multiple resistance and support level previously, so if it maintains this level then it can breach its 50 day MA level of 3157.75 and above this 3180 will be the next level for STI.
SUPPORT : STI have a strong support @ 3060 level if STI breached this level than it can go for 3030-3000 level.
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