ASI CHART support level

Rafi hilur · 1 ASI CHART support level Mon Feb 10, 2014 2:00 pm

Rafi hilur

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The up trending channel line supports at 5850. (Red lines).
If falls below 5850 could come down to 5400 levels.

Jiggysaurus · 2 Re: ASI CHART support level Mon Feb 10, 2014 2:04 pm

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4,800 is a reliable support level, you just need to draw the line horizontally on your chart.

Slstock · 3 Re: ASI CHART support level Mon Feb 10, 2014 2:17 pm

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Welcome to the forum. Your first post is something with effort ( not a 1 line comment) so we appreciate.

But these Tehcnicals should be considered with other factors.

If people just draw lines and panic not 5400 even 4800 is possible.

But is there a reason to panic and sell like this unless one is holding worthless shares.

If ASI fall to 5850 ( not to mention 5400), that means ASI will loose 4.5% . Mean this year return will be negative again.

So how much do you think COMB, DFCC, DIST , JKH and other shares will be ?

Do these shares deserved another 10-20% drop is something we should ask. If ASI goes to 5400 how much do you think they will be . Will smart people wait that long without buying?

The main reason for this drop , is the index was dragged down for foreign sales of JKH , COMB etc. Also some retailer are taking profit from some shares that went up.

Other retailers follow the trend to panic and sell good shares also. Some wise people know what to do slowly.

After this Human right scare is over..... ( you fill in the blanks)

Rafi hilur · 4 Re: ASI CHART support level Mon Feb 10, 2014 2:43 pm

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I mean the upper channel line is still bullish and in an uptrend. It may not fall below 6000. (Max 5850-5900)

200 MA also gives strong support at 6000

In case if ASI falls below the lower channel line, then we need to evaluate at that time. This is very unlikey

Jana · 5 Re: ASI CHART support level Mon Feb 10, 2014 2:47 pm

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slstock wrote:
After this Human right scare is over..... ( you fill in the blanks)

Then We need to wait until 28th MARCH to ride on the Bull... still more than 6 Weeks time...
Are you serious Slstock Downturn continue until End of MAR??? Shocked

Ohhh My God I couldn't Imagine if the ASI Goes to 4800 then all craps can collect in Cts?? Shocked

D.G.Dayaratne · 6 Re: ASI CHART support level Mon Feb 10, 2014 2:50 pm

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After this Human right scare is over definitely you can see a upward trend

Human right scare is only a physiological problem

It will not be a real problem to the economy.

Even the resolution is passed .govt will be given a chance to correct

and face reality.

Slstock · 7 Re: ASI CHART support level Mon Feb 10, 2014 2:51 pm

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Seriously Jana !!!! You have been here far too long to know better.

Must be for 100 time am saying this :

No market can/will stay red or green for long periods

Jana wrote:

slstock wrote:
After this Human right scare is over..... ( you fill in the blanks)

Then We need to wait until 28th MARCH to ride on the Bull... still more than 6 Weeks time...
Are you serious Slstock Downturn continue until End of MAR???

Ohhh My God I couldn't Imagine if the ASI Goes to 4800 then all craps can collect in Cts??

Jana · 8 Re: ASI CHART support level Mon Feb 10, 2014 2:59 pm

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slstock wrote:Seriously Jana !!!! You have been here far too long to know better.

Must be for 100 time am saying this :

No market can/will stay red or green for long periods

yes Slstock even in this point if I come out I am not effect that much .. But I couldn't imagine 4800 level..

anyhow good or bad I like to stay away from the market so I like to sell all within week...will see later.. at least I can safe my money which is deposit in mkt

Slstock · 9 Re: ASI CHART support level Mon Feb 10, 2014 3:11 pm

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Sigh .. we were kidding .

Market will NOT go to 4800 or 5400 Human right or not if CSE as an ounce of sense ( I am deducting the fact there is no major unexpected happening beyond our control which can apply to any market ) .

I will be suprised even if ASI should fall to 6000
I expect market to turn around sooner than later ( at least short term) when these foreign selling stops.

Foreigners are selling

DIAL at Rs 9 which they probably bought at Rs 6
COMB at Rs 120 which they bought at Rs 100 or much lesser
JKH at Rs 230, which they bought at Rs 175 or much lower.

Sri Lanka retailers are probably selling JKH after buying it at Rs 250 and selling now at Rs 230.

Jana wrote:

slstock wrote:Seriously Jana !!!! You have been here far too long to know better.

Must be for 100 time am saying this :

No market can/will stay red or green for long periods

yes Slstock even in this point if I come out I am not effect that much .. But I couldn't imagine 4800 level..

anyhow good or bad I like to stay away from the market so I like to sell all within week...will see later.. at least I can safe my money which is deposit in mkt

dhanurrox · 10 Re: ASI CHART support level Mon Feb 10, 2014 4:07 pm

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Now who sells foreigners sell in green?Today also outflow.There selling has made market red.

Jana · 11 Re: ASI CHART support level Mon Feb 10, 2014 4:15 pm

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slstock wrote:Sigh .. we were kidding .

Market will NOT go to 4800 or 5400 Human right or not if CSE as an ounce of sense ( I am deducting the fact there is no major unexpected happening beyond our control which can apply to any market ) .

I will be suprised even if ASI should fall to 6000
I expect market to turn around sooner than later ( at least short term) when these foreign selling stops.

Foreigners are selling

DIAL at Rs 9 which they probably bought at Rs 6
COMB at Rs 120 which they bought at Rs 100 or much lesser
JKH at Rs 230, which they bought at Rs 175 or much lower.

Sri Lanka retailers are probably selling JKH after buying it at Rs 250 and selling now at Rs 230.

Thanks Slstock , you gave me some confidence .. I am totally confuse because of my credit.. all ways you point out me about crap , credit issues but still I trap by that..

mark · 12 Re: ASI CHART support level Mon Feb 10, 2014 4:23 pm

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wow 4800

UKboy · 13 Re: ASI CHART support level Mon Feb 10, 2014 5:11 pm

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WAIT. ( I meant if you are planning to buy anything as an investment)

worthiness · 14 Re: ASI CHART support level Mon Feb 10, 2014 7:34 pm

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Yes, scary events are going on round the clock in this country except the CSE screen so far. Technical analysis still displays the room for consolation. Direction given by last trading day of this week would be the turning point..I guess..

econ · 15 Re: ASI CHART support level Mon Feb 10, 2014 9:28 pm

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I think foreigners are selling for some reasons. I wish I could exit the market early last week. but unfortunately I am having massive unrealized losses due to share holding since 2011. I was expected this bull run go at least 6500 and exit with marginal capital losses.. now it seems that that never gonna happened and need to hold my portfolio for long term again..

D.G.Dayaratne · 16 Re: ASI CHART support level Mon Feb 10, 2014 10:14 pm

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We all should try to change few individuals who mismanaged economy under this govt

Govt change is not possible under present circumstances

Some people mislead the govt

Stock market problem is directly connected with mismanagement and manipulation of stock market by govt authorities

Political authorities will realize this very soon

until such time pl hold fundamentally sound stocks

KDDND · 17 Re: ASI CHART support level Mon Feb 10, 2014 10:47 pm

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econ wrote:I think foreigners are selling for some reasons. I wish I could exit the market early last week. but unfortunately I am having massive unrealized losses due to share holding since 2011. I was expected this bull run go at least 6500 and exit with marginal capital losses.. now it seems that that never gonna happened and need to hold my portfolio for long term again..

I think many of us were in this stage....
me too expected 6500 this time......

it seem we had all to see that level except this MARCH drama....

by now, I believe...until MARCH drama finish no clear jump... except GOVERNMENT/ETF/EPF buy stocks... but yet they buy solid and strong counters... not all counters...

Seems like now it shaping to see the next JUMP.... just after DRAMA and next results....
until then some counters may JUMP, BUMP and FLY....
Buy happy to stay in POSITIVE...
BUT I never expect 5000, and even I don't expect 5400,
15% chance to touch 5600... even it touch it it may not stay one week that level....,
Thats how I feel.....!!!

GOOD TIME a head... ti nicely WAIT and CATCH the BEST COUNTERS! @BEST PRICE! for LONG TERM!

GL !

hariesha · 18 Re: ASI CHART support level Mon Feb 10, 2014 11:23 pm

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Did n't we had this drama in last year also. Market recovered at the end of first week of March. I think till end of this month will provide good buying opportunities.

kalum · 19 Re: ASI CHART support level Tue Feb 11, 2014 9:16 am

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slstock wrote:Sigh .. we were kidding .

Foreigners are selling

DIAL at Rs 9 which they probably bought at Rs 6
COMB at Rs 120 which they bought at Rs 100 or much lesser
JKH at Rs 230, which they bought at Rs 175 or much lower.

Sri Lanka retailers are probably selling JKH after buying it at Rs 250 and selling now at Rs 230.

I definitely love this part Very Happy

If market keep some downward trend and JKH follow the trend or vice versa,
one strategy will be collecting JKH. which actually benefited me in past. (from post-right announcement dates of JKH.)
following blue chips is less risk. Butt here may be dozens of counters which may given more return.

traderathome · 20 Re: ASI CHART support level Tue Feb 11, 2014 9:50 am

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Rafi hilur wrote:

The up trending channel line supports at 5850. (Red lines).
If falls below 5850 could come down to 5400 levels.

Thanks Rafi Smile

Had a look at ASI chart this morning on my screen.
Looks a short term down ward trend may rebound of 6080-6015 to wards 6400-6500 This is basically a 50% retracement of the last peak & keeping in line longterm harmonic pattern.
The previous HIGH of 6250 was broken last time, and surely the break of the RES was triggered in JAN 2014 will see through in my opinion go beyond 6500 Smile

this year.
The down ward risk will come to play if ASI 6000 barrier is broken, until then BULLISH sentiments would not be affected.

Good luck
TAH

Rafi hilur · 21 Re: ASI CHART support level Tue Feb 11, 2014 10:00 am

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Thanks

Jana1 · 22 Re: ASI CHART support level Wed Feb 12, 2014 9:20 am

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This time I believe big fishes would effectively use march issue as a big collection point since most factors are favourable to the business. If mkt doesn't fall much better start collecting one week befr the issue. Mostly we all know the results of march decisions... Smile

D.G.Dayaratne · 23 Re: ASI CHART support level Wed Feb 12, 2014 9:34 am

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Jana1

You are 100% correct

Some people try to create trouble water to fish Essy.

LSE · 24 Re: ASI CHART support level Wed Feb 12, 2014 9:40 am

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Hi All,

ASPI in the support region. As slstock & TAH said No need to panic. I'm also with them and sooner than later we can see a turn around. Hope for the best. If it's fail to support will see what are the possibilities can happen in coming weeks . This index never touch 4800 again.

Rafi hilur welcome to the forum mate. Very Happy

Thank You.

KDDND · 25 Re: ASI CHART support level Wed Feb 12, 2014 6:09 pm

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LSE!
In my guess.....
I believe ASI goes down 6000
It may settle some where 5850
Until MARCH drama over.......
Unless government give a self made push directly or indirectly.....

But I too waiting to see uptrend soon
LETS SEE Smile

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ASI CHART support level

1 ASI CHART support level Mon Feb 10, 2014 2:00 pm

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2 Re: ASI CHART support level Mon Feb 10, 2014 2:04 pm

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4 Re: ASI CHART support level Mon Feb 10, 2014 2:43 pm

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5 Re: ASI CHART support level Mon Feb 10, 2014 2:47 pm

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6 Re: ASI CHART support level Mon Feb 10, 2014 2:50 pm

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