Bursa Market : KLCI Technical Anaysis Report 29 Sept

Market Review for KLCI:
The FBM KLCI index gained 5.84 points or 0.32% on Monday. The Finance Index increased 0.70% to 17264.55 points, the Properties Index dropped 0.23% to 1493.5 points and the Plantation Index down 0.22% to 8397.8 points. The market traded within a range of 7.55 points between an intra-day high of 1846.75 and a low of 1839.20 during the session. 

On the first trading day of the week, the KLCI closed higher by 5.84 points at 1846.34 points amid the positive economic performance in the US. The performance of our benchmark index was supported by gains in heavyweight counters such as CIMB, Hong Leong Financial, and Maxis.

KLCI Day Performance
Open	1841.05
High	1846.75
Low	1839.20
Close	1846.34
Change(Points)	5.84
% Change	0.32%
Volume	2602.1M
Rise	371
Fall	436
Unch	1549

Market forecast for KLCI:
Market trend is still down and prices are moving sideways but buying pressure is seen higher today. It is anticipated to be good buying momentum in the market. Still need to break the resisting level 1854.745.

KLCI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1820	1805	1780	1854	1878	1895

Technical indicators:RSI stood below the centre line at 41.911 with its CCI at -60.583. Difference line of MACD performed at -7.071 below its signal line which performed at -5.964.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
CIMB	7.19	2.86	UEMS	1.82	-1.62
HLFG	17.76	2.19	KLK	21.5	-1.19
MAXIS	6.52	1.88	YTL	1.7	-1.16
SKPETRO	4.15	0.97	IOICORP	4.82	-0.41
GENTING	9.34	0.43	ASTRO	3.34	-0.3

Economic Factors:

• The local stock market corrected a third straight week on regional weakness after the global central bankers cautioned that the eurozone’s extended slowdown could stall global economic recovery.
• The ringgit opened lower today against the US dollar this morning as demand shifted to the greenback.
• Nam Cheong Ltd will invest US$30.7 million to subscribe to about 30 per cent of the enlarged share capital of PT Pelayaran Nasional Bina Buana Raya Tbk (BBR), an indirect subsidiary of Marco Polo Marine Ltd (MPML).
• IJM Plantations Bhd, the plantation arm of IJM Corp Bhd wants to bolster its planted oil palm estates to match and eventually outpace the land size of Singapore.
• Palm oil prices will decline as the world’s most-used edible oil is no longer competitive against alternatives even after dropping to the lowest level since 2009, according to Dorab Mistry, director at Godrej International Ltd Futures retreated.
• CAB expected to re-challenge immediate overhead resistance.
• Forty-two Malaysian construction companies generated total sales of RM102.96 million from 97 pre-arranged meetings at the recent Incoming Buying Mission on September 17, 2014.
• RAM Rating Services Bhd has received confirmation that Syarikat Borcos Shipping Sdn Bhd has fully-redeemed and cancelled its RM160 million Sukuk Ijarah MTN Programme (2008/2014) (IMTN).