On Friday, TISCO Securities expects the Thai market to trade sideways due to pressures from declining oil prices, which is a downward sentiment for energy stocks and the market overall.
However, the brokerage firm recommends investors closely monitor the foreign fund flows. While the SET Index has risen to 1,260 points, which painted a positive outlook for the market, further gains are expected to be limited.
The securities firm set a resistance level for the SET Index at 1,270-1,280 points, and a support level at 1,250 points, with the next level at 1,240 points for today’s session.
Kingsford Securities estimated the SET Index to move with a supporting level of 1,250 points, and a resistance level of 1,270 – 1,280 points. The brokerage anticipates the Thai market to be bolstered by foreign fund flows, which diversify from the U.S. markets to emerging markets to mitigate risks, while some project positivity for the post-election Thai economy.
The securities firm recommends investors accumulate stocks with a safe haven theme, such as ADVANC, TRUE, CPALL, GULF, and OSP, and speculating DELTA, CCET, and SCGP as these stocks showed signs of technical positivity.
Yesterday, Thailand’s SET Index closed at 1,261.39 points, increased 17.09 points or 1.37%, with a trading value of THB 44.22 billion.
