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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » ASI Technical Analysis - 5300.00 in Sight Again

ASI Technical Analysis - 5300.00 in Sight Again

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subash81


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@madukp wrote:
@SENOX wrote:agree with all the point which has mentioned above,


As we seen last few days market daily turnover reached to 5bn and  then slowly drop to 4bn then 3bn and then 2.5bn., according to this , there's no need any pandamic news to down market , according to price action this has to happen BY 30%, 5680 KEY level is only remaining hope for the recovery , 


Price has been dropped before making its higher high against to previous nearest resistance level,  


Mean market structure is at weak level and sensitive news like covid pandemic has badly effecting to downtrend (according to price action market had to down BY 30% , but in this situation it will be double ,hopefully coming few days will be RED, blood on the floor, Suspect Suspect      

These technicals can't be related to CSE, I'm taking with experience. Today's downfall is a forced one, not a genuine. This can be repeated by several using the pandemic situation and using the fear of margin trading retailers. But the situation will recover in U or V shape in a few weeks.
Correct

madukp and judecroos like this post

kasun_gimhana


Manager - Equity Analytics
Manager - Equity Analytics
When the real economy is deteriorating share market going up. so increasing covid-19 will deteriorate the economy but it is a positive sign for the market because the government will continue quantitative easing. So buy buy companies which have high net asset value(physical asset, not money( monetary asset)  .. sell trading stock ASAP.

judecroos


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Winner123 wrote:Holding on shares will give you a higher return than selling at the moment. Last quarter our companies have done really well. So dont panic. This pandemic will come to an end soon.
Thank you for the encouraging words laid here for the benefit of all the members.

Pradeep90


Senior Equity Analytic
Senior Equity Analytic
If ASI down to 5000 foreigners will not come until finish the corona..it should recover soon..if not stable current level..

SENOX likes this post

madukp


Expert
Expert
@madukp wrote:
@SENOX wrote:agree with all the point which has mentioned above,


As we seen last few days market daily turnover reached to 5bn and  then slowly drop to 4bn then 3bn and then 2.5bn., according to this , there's no need any pandamic news to down market , according to price action this has to happen BY 30%, 5680 KEY level is only remaining hope for the recovery , 


Price has been dropped before making its higher high against to previous nearest resistance level,  


Mean market structure is at weak level and sensitive news like covid pandemic has badly effecting to downtrend (according to price action market had to down BY 30% , but in this situation it will be double ,hopefully coming few days will be RED, blood on the floor, Suspect Suspect      

These technicals can't be related to CSE, I'm taking with experience. Today's downfall is a forced one, not a genuine. This can be repeated by several using the pandemic situation and using the fear of margin trading retailers. But the situation will recover in U or V shape in a few weeks.

See guys, This is why I have told you don't follow the technicals When someone creates artificial panic selling and same time artificial recovering. Truth is CSE should be in a good position now. All the banks and financials are undervalued. see craps are running rallies. These all are manipulations. So no point in finding out technical support levels on the artificially downturned market.

Pradeep90


Senior Equity Analytic
Senior Equity Analytic
Market Down= manipulators +Panic sellers+ covid fear

madukp likes this post

Rational Investor

Rational Investor
Manager - Equity Analytics
Manager - Equity Analytics
@Pradeep90 wrote:Market Down= manipulators +Panic sellers+ covid fear
+ Promoters from here assisting for the downfall. Very pathetic... pale

madukp likes this post

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