On Wednesday, Kasikorn Securities expects the Thai market to move sideways due to supporting factors from continued fund inflows to Asian markets, while the U.S. dollar plunged to almost four-year low.
The securities firm set a resistance level for the SET Index at 1,344 points, and a support level at 1,330 points for today’s session.
Kingsford Securities anticipated the SET Index to move with a supporting level of 1,320 points, and a resistance level of 1,340 –1,345 points. The brokerage estimates that the index will receive tailwinds from foreign fund inflows accumulating Thai stocks ahead of the February election.
The securities house recommends accumulating ADVANC, CPN, GULF, RATCH, BLA, AP, and SPALI—which are value stocks, as well as PTT, PTTEP, and TOP—which are bolstered by rising crude oil prices.
Yesterday, Thailand’s SET Index closed at 1,334.45 points, increased 27.38 points or 2.09%, with a trading value of THB 54.24 billion.
