ASI .... what will happen next

hellow friends,

  i ve been watching the fluctuations of ASI with little analytical knowledge , so i d like to have some expert opinion  for further clarifications.

  when the ASI was at the bottom it was a nice time to buy and now it has appreciated over a period of time.

 it seems that CSE is having  major uptrend with a characteristic fluctuations .so i ve marked it in the chart.






 so in upcoming month will it go down to touch the support levels or will it bounce back to the trend soon.

Very Intersting Akalanka, And really appreciate your time and effort.
Will have look at it later by me. In the meantime if some expert can put their 2cents worth would be highly appreciated.

Akalanka wrote:hellow friends,

  i ve been watching the fluctuations of ASI with little analytical knowledge , so i d like to have some expert opinion  for further clarifications.

  when the ASI was at the bottom it was a nice time to buy and now it has appreciated over a period of time.

 it seems that CSE is having  major uptrend with a characteristic fluctuations .so i ve marked it in the chart.






 so in upcoming month will it go down to touch the support levels or will it bounce back to the trend soon.

A battle between JKH and technical analysis.

waiting for bull run.but we have lot of opportunities of penny stocks trade with carefully

Even index goes down there will be plenty of opportunities. Probably penny ones and popular ones will come to dance!

Akalanka appreciate your effort... there can be reasons to see further downward for sometime. Iraq issue will have negative impact on mkt performance specially for tea...Yet the bond issue and the ruppee appreciations will ease out the mkt. This is a testing ground for bull and bear. Bull has many resources at the moment than Bear. But the problem is certain efforts by some to drag the mkt down and to collect as much as possible.

Agree  with you Yellow so many reasons for Bull to chase away the bear but still they battle neck and neck for unknown reasons.

yellow knife wrote:Akalanka appreciate your effort... there can be reasons to see further downward for sometime. Iraq issue will have negative impact on mkt performance specially for tea...Yet the bond issue and the ruppee appreciations will ease out the mkt. This is a testing ground for bull and bear. Bull has many resources at the moment than Bear. But the problem is certain efforts by some to drag the mkt down and to collect as much as possible.

Hi yellow last line is what I like.We have discussed lot about it in FB. .What I think is these collecting fellows can't give us red and loose the gaining confidence.

so today the market bounce back to green continuing the uptrend, but not sure weather its temp or permanent ,

 one of the most important factors i recon is the market activity of the JKH. i ve seen lot of members appreciate it. when its green , ASI also become green and it seems that JKH is heavily sold and is in a collecting phase. and it should run back to 230 rather than coming down.  but depends on the sellers intention .



and if it breaks 230 can expect a great bull , not only on JKH but also in others which have been climbing up steadily.  

but these days penny stocks earns a lot so ppl are considered in opportunity cost and at the same time collectors are collecting good fundamentals at low.

Thanks Akalanka. Most of the time two lines are paralal.
It seems either of them are influence each other on determining their paths.

Akalanka wrote:hellow friends,

  i ve been watching the fluctuations of ASI with little analytical knowledge , so i d like to have some expert opinion  for further clarifications.

  when the ASI was at the bottom it was a nice time to buy and now it has appreciated over a period of time.

 it seems that CSE is having  major uptrend with a characteristic fluctuations .so i ve marked it in the chart.






 so in upcoming month will it go down to touch the support levels or will it bounce back to the trend soon.

  So i just had a look through ASI and would like to share what i observed.



JKH was in 220 and the RSI was low and it bounced up to 240 , and ASI also kept on moving with green . when you just have a look at the chart you may observe that RSI was low in ASI too. but now with the current green days RSI has increase significantly.  
  if you just go through the previous years , when ever the RSI is at top a market correction came in.  leaving time to collect . so i think before reaching 7000 we need much correction.  if not a drastic drop will create a bad image on cse , making the investors sentiments to sell to prevent losses.
  to00 steep green will lead to a bloody red ..  what do you think.

but with this trend still there is a chance to reach 7000 , no worries but it will come down . so always should have a predetermined exit point..

 when considering the future prospects of the country ...   i ve seen buy srilanka sell singapoo  like....  definietly ASI will move to a greater level than ever.  

  Invest in srilanka ...   investor forum in Newyork ,  Capital market conference will add more foreign buks to cse..  for those we have to get ready ... . .now even foreign inflow seems to be better..

now it may be the time for some  investors to reap the harvest.  but after reaping the harvest all the harvest + scraps and thisngs should not be taken out from CSE..  re investing in potential stocks will lead to market growth which will lead to further profit gaining...

what do you think friends....

Its good to see members picking up technical side of the market.
Looking at my chart on ASI, i am of the opinion this will test 7200 and could see a slight correction as expected giving further opportunities to accumalate it. The pattern is taking a shape of HPP.

My RES zones for ASI would 7189 or 7505

We need to expect a reversal around these 2 points   

Sometimes you don't need to worry about RSI,Using same method as above chart check the major world markets last two years.   

SHARK wrote:My RES zones for ASI would 7189 or 7505

Will monitor closely.

Expect reversals  @ these 2 with 38.2% corrections o 50% if the Bull is strong