Daily Markets Briefing: Expect muted trading ahead of Budget 2015

The STI could eke out small gains.

According to OCBC, the optimism displayed on Wall Street last Friday night and the strong Nikkei start (up 0.9% now) is likely to provide some inspiration to the local market this morning.

Here's more from OCBC:

However, any gains by the STI could be limited as local investors could bid their time in entering the market today, in anticipation of the Singapore Budget 2015 announcement later in the afternoon.

For now, we still see the immediate resistance at the 3460 key peak, with the next hurdle at the 3500 psychological resistance.

On the downside, the immediate base is still pegged at the 3377-3388 gap zone support, followed by the next support at the 3300 psychological level.