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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » ASI: Technical view 7100 & 11000

ASI: Technical view 7100 & 11000

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1ASI: Technical view 7100 & 11000 Empty ASI: Technical view 7100 & 11000 Wed Jul 09, 2014 3:40 pm

puliyanam

puliyanam
Manager - Equity Analytics
Manager - Equity Analytics
Guys

Im not a serious believer in techs. But we have a machine at is serviced by an indian technical analyst. He put up some chart on the machine and told some mantras.
a. Next stop for ASI is around 7100
b. If we breach that 11,000

however he qualified him self saying some bottom level (6000 or something like that).

I mocked his reading. Seeing the market today, he may have the last laugh Im guessing.


2ASI: Technical view 7100 & 11000 Empty Re: ASI: Technical view 7100 & 11000 Wed Jul 09, 2014 3:44 pm

prabath


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
See the world market performances.There may not be a correction soon.Hello where were you when market was red.First you come and talk about promotions and now about correction.

3ASI: Technical view 7100 & 11000 Empty Re: ASI: Technical view 7100 & 11000 Wed Jul 09, 2014 4:00 pm

stevenapple


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@puliyanam wrote:Guys

Im not a serious believer in techs. But we have a machine at is serviced by an indian technical analyst. He put up some chart on the machine and told some mantras.
a. Next stop for ASI is around 7100
b. If we br    each that 11,000

however he qualified him self saying some bottom level (6000 or something like that).

I mocked his reading. Seeing the market today, he may have the last laugh Im guessing.



Shocked

4ASI: Technical view 7100 & 11000 Empty Re: ASI: Technical view 7100 & 11000 Wed Jul 09, 2014 4:03 pm

puliyanam

puliyanam
Manager - Equity Analytics
Manager - Equity Analytics
@prabath wrote:See the world market performances.There may not be a correction soon.Hello where were you when market was red.First you come and talk about promotions and now about correction.

"now about correction"--??? Laughing Laughing Laughing Im not talking about a correction? Read the post carefully.

5ASI: Technical view 7100 & 11000 Empty Re: ASI: Technical view 7100 & 11000 Tue Jul 15, 2014 9:06 am

puliyanam

puliyanam
Manager - Equity Analytics
Manager - Equity Analytics
Article from Reuters re ASI at 7000

Sri Lankan stocks fell on Friday from the previous session's 33-month closing high, snapping a seven session winning streak, as local investors booked profits in an overbought market, stockbrokers said.

The bourse had gained 4.5 percent in seven straight sessions through Thursday and is in the overbought region since July 3, fuelled by lower interest rates and continued foreign buying.

The main stock index fell 0.11 percent, or 7.46 points, to 6,661.40, slipping from its highest close since Oct. 10, 2011.



"There was a bit of profit-taking. The market is little overbought but it will recover next week," a stockbroker said on condition of anonymity.

Foreign investors, however, were net buyers of 100.9 million rupees worth of shares on Friday, extending the foreign inflows to 9.39 billion rupees worth of shares so far this year.

Analysts see room for gain with a P/E ratio of around 14.5 and resistance level at 7,000.

The fall was led by Commercial Bank of Ceylon PLC, which was down 1.48 percent to 146.30 rupees a share. Carsons Cumberbatch PLC fell 2.33 percent to 420 rupees.

Lower interest rates have prompted local investors to buy shares and shift their savings from unattractive fixed assets, analysts said, as yields on treasury bills edged down further at a weekly auction on Wednesday.

Turnover was 1.67 billion rupees ($12.83 million), well above this year's daily average of around 1.09 billion rupees.

Analysts said foreigners have been buying risky assets because they see value in them, while falling yields in fixed assets gradually prompt local investors to shift to equities.

The market has been on a rising trend since late February due to continued foreign buying and lower interest rates.

6ASI: Technical view 7100 & 11000 Empty Re: ASI: Technical view 7100 & 11000 Thu Aug 07, 2014 9:01 am

puliyanam

puliyanam
Manager - Equity Analytics
Manager - Equity Analytics
Moving toward 7000...ASI has 170 points to go to reach there. Will it go there shortly? How long will it take. Remember inflation is very low (officially) and interest rates are the lowest (for three or four decades low). Should not businesses be doing good???

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