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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Consolidation at 5000 and support at 4800

Consolidation at 5000 and support at 4800

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THASSIM


Manager - Equity Analytics
Manager - Equity Analytics
Last week I predicted the ASI to dip to 5,600. I know believe the index will dip further to 5,000 and support at 4,800. I don't want to comment on the severity of this wave but believe it will be curtailed but the impact on the market will be significant. I expect at least another market halts this week and it could be as soon as tomorrow. As investors, be prepared to buy the dip and if your running loses be patient as the market will correct itself gradually on it's journey towards a ASI 7000.

samaritan


Moderator
Moderator
This wave is not dangerous as tsunami wave. People walk into hospital recover and come out. Perhaps Thassim's above post has all the indications that he has just finished selling his stocks and injecting panic in order to reverse market trend to his benefit.

According to Chamal Rajapakse , Riyad Bathiudeen's release is going to be freshly investigated. I feel that this news can trigger adverse comments in this forum from certain quarters.


_________________




The biggest risk in life is not taking any risk at all.

ErangaDS likes this post

RJ1010


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Sri Lankan’s have already taken in the hit over the weekend and yesterday reacting to the new wave of positive covid cases. Even if this number goes up gradually now that more testing is being done it’s unlikely to create sudden panic. The prediction for further market fall will come true only if government decide to impose a countrywide lockdown or put curfew in colombo, both of which seems unlikely.... but who knows.. can’t predict the future.

geesura likes this post

THASSIM


Manager - Equity Analytics
Manager - Equity Analytics
Time will tell. And yes, I liquidated my entire portfolio last Friday but this forum know I don't write based on an agenda.

samaritan


Moderator
Moderator
@THASSIM wrote:Time will tell. And yes, I liquidated my entire portfolio last Friday but this forum know I don't write based on an agenda.
Sold on Friday and waited till 1/25pm today to come out with your comments.Consolidation at 5000 and support at 4800 Icon_lol


_________________




The biggest risk in life is not taking any risk at all.

Champ888


Manager - Equity Analytics
Manager - Equity Analytics
Last week no body can predict this corrona case.

He is telling a big story after 2 days

Kipling


Expert
Expert
Twisted Evil So so typical.
I propose SL invite Benjamin Netanyahu for a state visit.

Bakka1988


Manager - Equity Analytics
Manager - Equity Analytics
Market will turn at 5600 level . People will realise the truth

judecroos likes this post

Eranga87


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Bakka1988 wrote:Market will turn at 5600 level . People will realise the truth
market turnaround point depends on current corona situation (no. of covid positive cases). if govt. lift curfew next day morning, market rebound hence today. cant predict covid19 spreading.

actually, market never come back to ASI 5000 level. (assume no whole country lockdown situation)

hold and keep in your excess cash to buy times to times.

hiransilva23


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Bakka1988 wrote:Market will turn at 5600 level . People will realise the truth
Yesterday or today innocent people didn’t made this situation,some big people wanted to bring ASI down and collect from bottom level.yesterday in first two minutes ASI came down by more than 100 point then only people panicked and sold their stocks,today same way they move some stocks to bring ASI up.

judecroos likes this post

Mithooshan


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@THASSIM wrote:Last week I predicted the ASI to dip to 5,600. I know believe the index will dip further to 5,000 and support at 4,800. I don't want to comment on the severity of this wave but believe it will be curtailed but the impact on the market will be significant. I expect at least another market halts this week and it could be as soon as tomorrow. As investors, be prepared to buy the dip and if your running loses be patient as the market will correct itself gradually on it's journey towards a ASI 7000.

There is no way you could have *known* a dip where market fell to 5600 on a single day. For that, similar to doctor strange you should have seen the future. You could have predicted a drop but that too was a poor prediction.

ASPI fell due to covid and on the day you have shared this message no news about covid. If there was no Covid there could have been a correction but no way market would fall to 5600 levels.

You were just *lucky* or knew about Corona before it was published. If you were just lucky it’s okay but if you knew about Covid second wave beforehand then, I don’t know ! 🤭

You remind me of Srilankan Astrologers ! 😅 (not everyone but you know what i mean)

KavinduTM likes this post

gayan1987


Senior Equity Analytic
Senior Equity Analytic
But there is so many panic sellers and some selling pressure will be there with in next 2 days as well. believe Friday onwards market will gradually move up. Fundamental stock should buy and can gain short term and long term benefit as well. My personal view is market should be @6500 right now and it will definitely touch before December.

Mithooshan and geesura like this post

Eranga87


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
in my recent experience, I invested whole money earlier. at that time, ASI 6150. Sanddlly, the market index came down 4300 levels due to COVID 19. at that time, I am never going to sell and average a few shares. after COVID 19 situation, my portfolio was becoming profitable when the market index touches 4800. temporary now, you got upset, after a few times, you are really happy..

if you have to settle outstanding, settle outstanding. don't use buying power at this time. when curfew lifted, the market will normalize.


govt. really want to buildup market and attract foreign funds. this is one of the tools for attracting foreign investment. the government will pushup after few days..

don't sell.. better to examine market behavior and buy-in this period.

"Spring will come and so will happiness. Hold on>>>>

anges


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
guess mkt will fall further ! stay safe guys

INDY 500


Senior Equity Analytic
Senior Equity Analytic
Next support level at ASPI 5285
If the support level doesn't work, next will be 4900.
Hopefully, strong support level will influence at 5285.

ErangaDS

ErangaDS
Manager - Equity Analytics
Manager - Equity Analytics
@Mithooshan wrote:
@THASSIM wrote:Last week I predicted the ASI to dip to 5,600. I know believe the index will dip further to 5,000 and support at 4,800. I don't want to comment on the severity of this wave but believe it will be curtailed but the impact on the market will be significant. I expect at least another market halts this week and it could be as soon as tomorrow. As investors, be prepared to buy the dip and if your running loses be patient as the market will correct itself gradually on it's journey towards a ASI 7000.

There is no way you could have *known* a dip where market fell to 5600 on a single day. For that, similar to doctor strange you should have seen the future. You could have predicted a drop but that too was a poor prediction.

ASPI fell due to covid and on the day you have shared this message no news about covid. If there was no Covid there could have been a correction but no way market would fall to 5600 levels.

You were just *lucky* or knew about Corona before it was published. If you were just lucky it’s okay but if you knew about Covid second wave beforehand then, I don’t know ! 🤭

You remind me of Srilankan Astrologers ! 😅 (not everyone but you know what i mean)

Champ888


Manager - Equity Analytics
Manager - Equity Analytics
I think 

I think THASSIM know this corona case even last Friday

THASSIM


Manager - Equity Analytics
Manager - Equity Analytics
Guys

I was just lucky to have liquidated since I have my exams around the corner and liquidated so I could focus. However the risk of a second wave was imminent and it was a major risk factor alongside Ruppe depreciation, GovSL debt and fiscal consolidation worries etc.

I am not telling I foresaw this but the risk was always present. I exited due to RSI being high and foresaw a market correction but things escalated when fear induced selling took place.

I am not telling to sell your stock but telling to consider buying the dip since opportunities like these are rare!

Teller and dayandacool like this post

samaritan dislikes this post

Teller

Teller
Moderator
Moderator
Buying at current price means , you will loose lot opportunities . This will come down 4800-4900 . This is the common answer i can give you those who asked from me.


_________________




Teller said is said..

samaritan dislikes this post

xhunter

xhunter
Moderator
Moderator
@Teller wrote:Buying at current price means , you will loose lot opportunities . This will come down 4800-4900 . This is the common answer i can give you those who asked from me.
same person who told "wait", market will go down after 12th May (reopen) and same person who specifically said JKH will go down and touch 85 when it was 106/=

paid worker for giant collectors.

Eranga87 and ErangaDS like this post

Teller dislikes this post

KavinduTM

KavinduTM
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
My opinion is we must grab these opportunities as this downfall is just a mentality and sooner it will adjust to its previous levels. Collectors will be happy.

samaritan likes this post

THASSIM


Manager - Equity Analytics
Manager - Equity Analytics
I agree with teller. We are only sharing our views the index will drop to 4800 -4900. 

If you think it isn't - hold your stocks.

If you agree, get ready to collect at market bottom. 

Let's try to agree / disagree with logic rather than speculation & emotions. We could be wrong too and the index could shoot up-to 6000 again but my analysis of situation as of now is that 4800-4900 is wear support will tested given the current wave will be the most complex to curtail and we all know the consequences of curfews on the economy & thereby the capital market.

samaritan, KavinduTM and Mithooshan dislike this post

samaritan


Moderator
Moderator
@THASSIM wrote:I agree with teller. We are only sharing our views the index will drop to 4800 -4900. 

If you think it isn't - hold your stocks.

If you agree, get ready to collect at market bottom. 

Let's try to agree / disagree with logic rather than speculation & emotions. We could be wrong too and the index could shoot up-to 6000 again but my analysis of situation as of now is that 4800-4900 is wear support will tested given the current wave will be the most complex to curtail and we all know the consequences of curfews on the economy & thereby the capital market.
This is utter bullshit with an hidden agenda in order to create panic once again. Suggest you could buy what you sold at current price levels as the ASI wave is on the rise.


_________________




The biggest risk in life is not taking any risk at all.

KavinduTM

KavinduTM
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@THASSIM wrote:I agree with teller. We are only sharing our views the index will drop to 4800 -4900. 

If you think it isn't - hold your stocks.

If you agree, get ready to collect at market bottom. 

Let's try to agree / disagree with logic rather than speculation & emotions. We could be wrong too and the index could shoot up-to 6000 again but my analysis of situation as of now is that 4800-4900 is wear support will tested given the current wave will be the most complex to curtail and we all know the consequences of curfews on the economy & thereby the capital market.

Yeah i agree that we should make our investment decisions on logics rather than emotions. But what is the logic behind this downfall? No logics just stupid panic selling and negative mentality.

I decided to hold and collect more on thinking logically, Not on greedy and selfish emotions like some negative minds here.

samaritan, Kipling, judecroos and SANJAYANM like this post

THASSIM


Manager - Equity Analytics
Manager - Equity Analytics
I ignore samiratan since he doesn't understand the Dynamics of a market. I've read his comments elsewhere and he speaks rubbish frequently.

Kavindu,

What's the logic behind my claim?

1. This wave will be the most wide spread and difficult to control which will result in island wide curfews. You will know the concequences of a curfew on a market. Investors priorities change as they divest from 'Risk Assets'

2. Don't expect further Foreign inflows. SL's Foreign Currency of $7b will exhaust in the next 12 months due to settlements of outstanding capital / Interest. Without refinancing SL is in imminent danger.

I'm a financial analyst and this is what we do for a living. I've been right so far in all my posts (check it up) and it's your call to buy / sell / hold. However I understand, there is a possibility of me being wrong but it's very remote.


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