ASI Support levels - Is 7014 broken ??

aladdin · 1 ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 12:04 pm

aladdin

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ASI support level was at ASI 7014. Now ASI is at 7002.. Does this means the level is broken or will the market take a U turn now ??

Next support level is at ASI 6815.

Hope to see a useful discussion about technical s on ASI behavior..

wikum100 · 2 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 12:05 pm

wikum100

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what you mean by ASI support level ?

aladdin · 3 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 12:14 pm

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Support levels refer to charts of any index, market, stock, commodity or currency. You look at a chart, and the lows are the support level. If the index breaks the support level, it makes a new low. If it hits a low twice, that is called a double bottom. If it hits the same low three times, that is called a triple bottom.

aladdin · 4 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 12:16 pm

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If more simple explanation is required,

Support is said to be a level, where DEMAND is strong enough to prevent price from declining further.

As you may know, StocK Prices are a matter of demand and Supply,
When supply > demand - price falls.
When demand > Supply - Price rises

If at a particular point the stock of Company X falls to Rs 90. Assume never had it fallen to this level before. In that case, Rs 90/- becomes a Support Level.
In future, each time the stock of X falls, investors will check how far it falls. Till such time to fall is above to 90 level, the sentiment is that Demand will help the stock to recover in future ( despite the fall).

However, if it breaches the 90/- mark, that means a new support level has formed. In this case, a bearish mood sets in. Supply is said to overpower demand, when Support Level is broken.

wikum100 · 5 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 12:17 pm

wikum100

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aladdin wrote:If more simple explanation is required,

Support is said to be a level, where DEMAND is strong enough to prevent price from declining further.

As you may know, StocK Prices are a matter of demand and Supply,
When supply > demand - price falls.
When demand > Supply - Price rises

If at a particular point the stock of Company X falls to Rs 90. Assume never had it fallen to this level before. In that case, Rs 90/- becomes a Support Level.
In future, each time the stock of X falls, investors will check how far it falls. Till such time to fall is above to 90 level, the sentiment is that Demand will help the stock to recover in future ( despite the fall).

However, if it breaches the 90/- mark, that means a new support level has formed. In this case, a bearish mood sets in. Supply is said to overpower demand, when Support Level is broken.

thanks very informative +rep

CSE Today · 6 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 12:17 pm

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aladdin wrote:ASI support level was at ASI 7014. Now ASI is at 7002.. Does this means the level is broken or will the market take a U turn now ??

Next support level is at ASI 6815.

Hope to see a useful discussion about technical s on ASI behavior..

As witnessed in last couple of week...all the Fundamentals on down & penny + speculative s were the main contributors to the ASI..so now without focusing on Fundamentlls ASI will not easily turned around, So I guess unless people go for Fundamentals this drop will last further more days & some times may break the 6815 support also...! Sad

aladdin · 7 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 12:23 pm

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[quote="CSE Today"]

aladdin wrote:ASI support level was at ASI 7014. Now ASI is at some times may break the 6815 support also...!

dont be in Sad

face brother... even when the ASI in falling rapidly there are stocks going up and up.. i wont name them since its like manipulation. But if u check the market today, some stocks are doing very well in the red market. In the past also these stocks have done better in a falling market compared to a bull market..

cheer up..

kam2011 · 8 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 12:29 pm

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Thank you both aladdin and cse today, Your explanations are very useful to analyse the current situation. However its look like index would come down little further due to unknown and unexpected reasons.But as indicated in aladdin's above post we should try to identify stocks that are good to dealt for a short time. Is n't it?

Last edited by kam2011 on Thu Jun 16, 2011 12:30 pm; edited 1 time in total

CSE Today · 9 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 12:30 pm

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aladdin wrote:
dont be in face brother... even when the ASI in falling rapidly there are stocks going up and up.. i wont name them since its like manipulation. But if u check the market today, some stocks are doing very well in the red market. In the past also these stocks have done better in a falling market compared to a bull market..

cheer up..

I too gained good profits today.. & hope another 50% tomorrow Very Happy

(Guess you know the stock) coz of our experience & hawk eye... but I was commenting on overall performance of the CSE

aladdin · 10 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 1:04 pm

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ASI is now at 6989. Seems the support level which was at 7014 has been broken now.. But can tell perfectly at the close of the trading day only... If it ends below 7000, sure tomorrow also down and will go near to the next support level..

aladdin · 11 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 1:59 pm

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seems market is turning back to green. As i said ASI has come back to 7000 level.. and if this close above 7000 level, i predict tomorrow it will start moving up again..

Akalanka · 12 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 2:01 pm

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aladdin wrote:seems market is turning back to green. As i said ASI has come back to 7000 level.. and if this close above 7000 level, i predict tomorrow it will start moving up again..

Actually it seems like ASI had a double bottom

Slstock · 13 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 3:00 pm

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aladdin wrote:ASI support level was at ASI 7014. Now ASI is at 7002.. Does this means the level is broken or will the market take a U turn now ??

Next support level is at ASI 6815.

Hope to see a useful discussion about technical s on ASI behavior..

We need to wait for tommorrow for confirmation of a turn around. Towards the end of market, buyers slowly started to come.
Lets see and think positive.

suja · 14 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 3:08 pm

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Guys , seriously I am taking a risk and buying value stocks very slowly maybe 100-200 shares a day. My personal experience this will pay back as I experienced the same scenario 2 times now , this year and last year. This is my personal feeling as if there are no major issues with the world or the economy this will turn in the next few months for sure. I feel that these are good prices to collect value stock at 10PE or less and which gives a decent ROI.

kam2011 · 15 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 3:26 pm

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Dear suja,

I too agree with you. We must be careful when we invest in shares seeking mid and long term benefits.Surely you should study financial ratios and all other fundamentals. If you could notice a company below 10PE or even less than that with adequate reputation we can guess that investment would be a treasure for the future.

ISURU · 16 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 6:31 pm

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aladdin wrote:seems market is turning back to green. As i said ASI has come back to 7000 level.. and if this close above 7000 level, i predict tomorrow it will start moving up again..

Meaning is it the turning point?

xhora · 17 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 8:59 pm

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ISURU wrote:

aladdin wrote:seems market is turning back to green. As i said ASI has come back to 7000 level.. and if this close above 7000 level, i predict tomorrow it will start moving up again..

Meaning is it the turning point?

You have to check the index performance tomorrow also to confirm the turn around.

aladdin · 18 Re: ASI Support levels - Is 7014 broken ?? Fri Jun 17, 2011 6:58 am

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xhora wrote:

ISURU wrote:

aladdin wrote:seems market is turning back to green. As i said ASI has come back to 7000 level.. and if this close above 7000 level, i predict tomorrow it will start moving up again..

Meaning is it the turning point?

You have to check the index performance tomorrow also to confirm the turn around.

Brother not to worry. ASI ended at 7015. It created a double bottom as well as a new low level. So that means most probably the momentum would be upwards from today unless huge extraordinary pressure push this down again,.

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ASI Support levels - Is 7014 broken ??

1 ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 12:04 pm

aladdin

2 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 12:05 pm

wikum100

3 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 12:14 pm

aladdin

4 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 12:16 pm

aladdin

5 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 12:17 pm

wikum100

6 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 12:17 pm

CSE Today

7 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 12:23 pm

aladdin

8 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 12:29 pm

kam2011

9 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 12:30 pm

CSE Today

10 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 1:04 pm

aladdin

11 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 1:59 pm

aladdin

12 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 2:01 pm

Akalanka

13 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 3:00 pm

Slstock

14 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 3:08 pm

suja

15 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 3:26 pm

kam2011

16 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 6:31 pm

ISURU

17 Re: ASI Support levels - Is 7014 broken ?? Thu Jun 16, 2011 8:59 pm

xhora

18 Re: ASI Support levels - Is 7014 broken ?? Fri Jun 17, 2011 6:58 am

aladdin

19 Re: ASI Support levels - Is 7014 broken ??

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