My Technical prediction of ASI

gann · 1 My Technical prediction of ASI Tue Mar 08, 2011 6:47 pm

gann

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gann · 2 Re: My Technical prediction of ASI Tue Mar 08, 2011 6:51 pm

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Above is the weekly chart of ASI.

I see two possibilities which needs to be monitored.

1. If ASI hits 7200 and bounce back and reach above 7800+ we could expect the present bull run to continue for some time.
2. If it breaks below 7200 market is will find support at 6400.

Meta Trader · 3 Re: My Technical prediction of ASI Tue Mar 08, 2011 7:00 pm

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gann wrote:I see two possibilities which needs to be monitored.
1. If ASI hits 7200 and bounce back and reach above 7800+ we could expect the present bull run to continue for some time.
2. If it breaks below 7200 market is will find support at 6400.

technicals are useless in this market.
the thing is by the end of the last year market fell to 6100 levels and then pushed by EPF (they bought cars , buki, jkh like crazy on that day ).
it won't fall to that extended now . 6400 hmm..... i don't think so

mark · 4 Re: My Technical prediction of ASI Tue Mar 08, 2011 8:36 pm

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gann wrote:Above is the weekly chart of ASI.

I see two possibilities which needs to be monitored.

1. If ASI hits 7200 and bounce back and reach above 7800+ we could expect the present bull run to continue for some time.
2. If it breaks below 7200 market is will find support at 6400.

please can you remove the effect on ASI by CARS group.........specially WAPO.........
Then things may be clear.........
ASI was mainly driven by CARS group in last days..........so i don't think this chart shows the reality.....i may be wrong............... Smile

gann · 5 Re: My Technical prediction of ASI Tue Mar 08, 2011 9:10 pm

gann

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Meta Trader wrote:

gann wrote:I see two possibilities which needs to be monitored.
1. If ASI hits 7200 and bounce back and reach above 7800+ we could expect the present bull run to continue for some time.
2. If it breaks below 7200 market is will find support at 6400.

technicals are useless in this market.
the thing is by the end of the last year market fell to 6100 levels and then pushed by EPF (they bought cars , buki, jkh like crazy on that day ).
it won't fall to that extended now . 6400 hmm..... i don't think so

This is not a prediction. Its something we need to watch. please note the use of IF Smile

. Institutional buyers could buy us time but it will not rectify the overbought situation. A proper technical correction is way over due.

Last edited by gann on Tue Mar 08, 2011 10:22 pm; edited 1 time in total

gann · 6 Re: My Technical prediction of ASI Tue Mar 08, 2011 9:16 pm

gann

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mark wrote:

gann wrote:Above is the weekly chart of ASI.

I see two possibilities which needs to be monitored.

1. If ASI hits 7200 and bounce back and reach above 7800+ we could expect the present bull run to continue for some time.
2. If it breaks below 7200 market is will find support at 6400.

please can you remove the effect on ASI by CARS group.........specially WAPO.........
Then things may be clear.........
ASI was mainly driven by CARS group in last days..........so i don't think this chart shows the reality.....i may be wrong...............

I agree what you say about WAPO and CARS. But the core issue is market is not making new highs and that leads to investors to hang on to the present portfolio with a hope of a green day.... so the buying power is diminishing. no new money comes to the market in such a scenario.... which leads to force selling. One fuels the other. Only way out is to let the market correct.

sas · 7 Re: My Technical prediction of ASI Fri Oct 14, 2011 1:08 pm

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@gann,
highly appreciate if you say something about current situation of the market Smile

in this thread or below thread.

http://forum.srilankaequity.com/t6624-my-prediction-of-the-market-direction?

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My Technical prediction of ASI

1 My Technical prediction of ASI Tue Mar 08, 2011 6:47 pm

gann

2 Re: My Technical prediction of ASI Tue Mar 08, 2011 6:51 pm

gann

3 Re: My Technical prediction of ASI Tue Mar 08, 2011 7:00 pm

Meta Trader

4 Re: My Technical prediction of ASI Tue Mar 08, 2011 8:36 pm

mark

5 Re: My Technical prediction of ASI Tue Mar 08, 2011 9:10 pm

gann

6 Re: My Technical prediction of ASI Tue Mar 08, 2011 9:16 pm

gann

7 Re: My Technical prediction of ASI Fri Oct 14, 2011 1:08 pm

sas

8 Re: My Technical prediction of ASI

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