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Many are worrying about the direction of ASI nowadays,I would like to give a technical view of the ASI in coming days.My analysis may go wrong,therefore please do your own analysis before taking decision.
This is the 3 months daily chart of ASI.It started to move from 6921 to 7531 within forty days (too speedy and was finding a reason to slow).Then started to come down.There was a huge selling on the 24th of the Aug,because of that panic selling ASI bought down by 140 points within one day .As seen in the chart at 50% fib level on very next day market showed positive momentum.
But in the middle of domestic political turmoil and global economic crisis that uptrend couldn't sustain and again headed down.
On friday ASI stopped at a crucial level of 7215,That is exactly on 200DMA,Usually it's a strong support. I expect a Green monday tomorrow,But still down trend is strong as shown by other indicators. so it may start to going down in few days time if good positive thing doesn't happen.If so it will find a support at 7154.In worst case 7064 is the bottom.This is a just a short term analysis
In long term ASI has a uptrend.This is the monthly chart of ASI since 2003.
Everybody know the reasons why ASI had a big dip in 2009 and big up in 2011.
It will move up for sure.LT and MT players have not to worry.ST people don't panic and sell your good solid shares at dirty cheap price.
New comers don't try to trade with fundamentally weak shares till you learn the art of trading.
This is the 3 months daily chart of ASI.It started to move from 6921 to 7531 within forty days (too speedy and was finding a reason to slow).Then started to come down.There was a huge selling on the 24th of the Aug,because of that panic selling ASI bought down by 140 points within one day .As seen in the chart at 50% fib level on very next day market showed positive momentum.
But in the middle of domestic political turmoil and global economic crisis that uptrend couldn't sustain and again headed down.
On friday ASI stopped at a crucial level of 7215,That is exactly on 200DMA,Usually it's a strong support. I expect a Green monday tomorrow,But still down trend is strong as shown by other indicators. so it may start to going down in few days time if good positive thing doesn't happen.If so it will find a support at 7154.In worst case 7064 is the bottom.This is a just a short term analysis
In long term ASI has a uptrend.This is the monthly chart of ASI since 2003.
Everybody know the reasons why ASI had a big dip in 2009 and big up in 2011.
It will move up for sure.LT and MT players have not to worry.ST people don't panic and sell your good solid shares at dirty cheap price.
New comers don't try to trade with fundamentally weak shares till you learn the art of trading.
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