Last Thursday's market: The SET continued to sharply increase in the beginning thanks to strong investment sentiment from abroad after investors were optimistic that key central banks would launch additional stimulus. However, since it was still unclear and Thailand was on long holiday, there was selling that pressured the index to turn to decrease and turn again to end slightly up.
Today's outlook: While Thailand was on holiday last Friday (July 1), international markets continued to rally thanks to expectation that key central banks would launch additional stimulus. However, there was no clarity. Moreover, investors began to turn their eye on U.S. economic data before a Fed meeting late this month (i.e. July 26-27). As a result, Wall Street started to increase at a slower pace last Friday. This morning, although Asian equity markets continued to open higher, upside began to narrow. In addition, there were times that they retreated. Given that, FSS expects the SET to continue to be volatile at least for a while before the index increases going forward.
Strategy: FSS recommends that investors selectively buy on weakness and hold already-have positions, waiting to sell in the next round of rallies.
Support: 1442-1436 , 1432-1430
Resistance: 1448-1452 , 1456-1462
Source: fnsyrus.com / settrade.com
