ASI trade ideas
CSE - ASI 21/5/23Market has been dull and showing bare minimum turnover for past couple of weeks. Indicating minimal interest of the investors. Usually happens when market bottoming out.
Technically lower trendline is where money lies. Quick touch there should bounce it at the support zone 8550 ~ 8520 roughly, with a possibility of making a RSI divergence.
Keep good eye on RSI trendline for a possible breakout.
DDR/DDO would play a major role as the trigger for next move in price action.
Holding the trendline from previous lows will be crucial for bulls. Below that we might see further pullback/correction/ or more..
NOT an IA
ASI - All Share IndexCSELK:ASI
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in any stock exchanges, Indices, Stocks, Forex, Crypto etc.
ASI Weekly
01. ASI index made a cup and handle in the weekly chart.
02. The supporting trend line is intact.
ASI on 12/05/2023
01. Index held above the MA 200 and MA 200 is currently providing support.
02. Index moving within the resistance zone.
03. MA 100 is going to be the next resistance but MA 100 is being flatted out. But MA 30 is sloping down and will be a strong resistance.
04 On the RSI, the bearish trend line has just been broken towards the upside. But with the last closing it shows indication of testing the trend line.
ASI - All Share IndexCSELK:ASI
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in any stock exchanges, Indices, Stocks, Forex, Crypto etc.
ASI on 12/05/2023
01. Index held above the MA 200 and MA 200 is currently providing support.
02. Index moving within the resistance zone.
03. MA 100 is going to be the next resistance but MA 100 is being flatted out. But MA 30 is sloping down and will be a strong resistance.
04 On the RSI, the bearish trend line has just been broken towards the upside. But with the last closing it shows indication of testing the trend line.
CSE - ASIASI is showing strength! RSI trendline has broken. 8500 support will work in case of pull back. if not immediate resistance will 9150.
Currently market is running on the support of 200dma. however its important to take position in cautions until we make a higher high, to break of the market structure, which is currently bearish.
However RSI breakout will work as a short term bullish signal. Lets see how it plays out
ASI - All Share IndexCSELK:ASI
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in any stock exchanges, Indices, Stocks, Forex, Crypto etc.
ASI on 11/05/2023
01. Index held above the MA 200 and MA 200 is currently providing support.
02. Index moving within the resistance zone and closed with a green candle.
03. MA 100 is going to be the next resistance but MA 100 is being flatted out.
04 On the RSI, the bearish trend line has just been broken towards the upside.
ASI - All Share IndexCSELK:ASI
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in any stock exchanges, Indices, Stocks, Forex, Crypto etc.
ASI on 08/05/2023
01. ASI is at the Current resistance zone 8840-9000 was tested and closed within it.
ASI on 08/05/2023
01. Index moved up for 3 consecutive days and currently testing and resting with in the resistance zone.
02. Index closed above the 200 MA.
03. RSI moved above the over sold zone and now moving towards the resistance trend line. A break out from this can be used as one indication.
ASI - All Share IndexCSELK:ASI
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in any stock exchanges, Indices, Stocks, Forex, Crypto etc.
ASI on 04/05/2023
01. ASI, still below the resistance zone, which was the previous support.
02. Current resistance zone 8840-9000 was tested and closed below it.
03. Index closed below 200 MA and it is acting as a resistance. Unless index breaks and close above 200 MA we can't expect a reversal.
04. The pattern inverse CnH is also in play. Theoretically, According to that pattern support zone 8500-8600 is a level to consider.
ASI on 04/05/2023
01. The support zone 8500-8600 is the next zone what we can hope to see some relief. FIB 0.5 level is also adjacent to this zone.
02. With this zone the next important supporting trendline 02 is there. In past this was a line where major bounce backs happened.
03. If above conditions breached we will be looking at support zone 8200-8300 with the GOLDEN POCKET.
05. RSI is at a overbought area. When we check the past this, when index reached this zone it made major or minor upward movements.
ASI 060520231. ASI broken below MA 200 and retesting.
2. MA 50, 20, 9 aligned top to bottom
3. MA 100, 9 about to cross
4. RSI took trend line support
5. Low turnover is observed continuously
6. If failed to break MA 200 resistance possible to take support at trend line
8. It is important for ASI to break 9456 and settle above.
ASI - All Share Index[ b]Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in any stock exchanges, Indices, Stocks, Forex, Crypto etc.
CSELK:ASI -
ASI on 02/05/2023
01. ASI lost the supporting trend line 01 which used to be a bouncing point in few occasions.
02. Current resistance zone 8840-9000 was a strong support in past and it was breached. FIB level 0.382 was in confluence with this zone.
03. Index closed below 200 MA. Closing below long-term MA is a strong bearish sign.
04. The pattern inverse CnH is also in play. Theoretically, According to that pattern support zone 8500-8600 is a level to consider.
ASI on 02/05/2023
01. The support zone 8500-8600 is the next zone what we can hope to see some relief. FIB 0.5 level is also adjacent to this zone.
02. With this zone the next important supporting trendline 02 is there. In past this was a line where major bounce backs happened.
03. Index closed below 200 MA. Closing below long-term MA is a strong bearish sign.
04. If above conditions breached we will be looking at support zone 8200-8300 with the GOLDEN POCKET.
05. RSI is at a overbought area. When we check the past this, when index reached this zone it made major or minor upward movements.
CSE ASI 5/2/2023ASI got a colossal 271 points drop today almost triggering circuit breakers today in bourse! This was the biggest single day drop ever since last year October 11th.
As expected from losing rising wedge trendline support market was showing diminished strength even though most of the fundamentals are coming in to place.
What to expect
* I strongly believe market should bounce hard from 8430-8500 levels. given the long standing trendline support lying there.
Pros.
* Market is properly oversold, green RSI region has only being pierced once in recent history. Covid era
* Fundamentals are flipping
* Interest rates are gradually coming down
* 0.5 Fib level
* Possible double bottom with a good support zone (marked in green)
Cons.
* DDR uncertainty.
* Dollar earning counters are at slight risk due to rupee appreciation
* Risk of losing dark green trendline. (further downtrend can be expected, though unlikely, there is a possibility
Not IA. just observations..
ASI - All Share IndexDisclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in any stock exchanges, Indices, Stocks, Forex, Crypto etc.
ASI (Left Side)
01. On 17/04/2023 RSI trend line rejected.
02. The supporting trend line rejected. Support zone 9190-9330 rejected.
03. MA 20 crossed MA 50 towards the down side.
04. RSI in a decline.
ASI (Right Side)
Inverted Cup and handle pattern completed and the neck line lost the support.
ASI 21042022Currently forming a base at GP and trend line support. Needs to break the Gold colour trend line and settle above while protecting the trend support.
ASI - All Share IndexDisclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
ASI - All Share IndexDisclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
ASI had hold the support zone and created the upward movement.
It closed above the support zone with a strong candle.
Seems that last 3 trading days bulls had taken the control in the over all market.
ASI - All Share IndexDisclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
Index is seeking support in zone 9190-9330 and closed with a green candle.
There is a supporting trend line below this zone which will provide immediate support.
MA 20 is looking for a sharp turn and need to look at this in coming days.
ASI - All Share IndexDisclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
ASI closed below the support 9190 - 9330.
Next there is the supporting trend line and important level of support 8840-9000.
The MA 20 is showing signs of curving down.
ASIAfter making a weak bearish divergence, ASI is being currently pulling back. 9480 will be a vital point for bulls to hold back for reversal.
ASI - All Share IndexDisclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
01. A bearish divergence has been formed and validated.
02. Rising wedge pattern also has been confirmed.
03. At the moment MA 50 is showing signs of support and there is a supporting trend line below it.
04. All the MAs are aligned one over the other.
05. At the moment ASI is moving withing an important support zone. Holding this level is important.
ASI 02042023Moving sideways after taking support at fib Golden Pocket.
MA 9 Resistance.
Formed a short term trend line and taking it as a support. Monitor the line breakdown.
RSI holding onto trend support. Took support and retested and looks good to move.
Based on the previous analysis ASI should move towards 10,100
ASIIn the monthly chart ASPI is forming a similar candle pattern as it did just before the previous bull run
Based on the last candle and RSI it looks like support is being taken. However MA 9 and 20 does not confirm. MA 20 broke down and retested. There are possibilities of taking trend support of MA 50 support.
Unfortunately there is no turnaround signals in the short time frames except 1h.
Monday's candle will be crucial. If the price moves up BO of 9700 and holding will be important before we move towards 10k CSELK:ASI
ASIFrom the recent lowest after the ATH, the index pulled back nearly 50 - 60% from the most recent low to high. Early indications are index falling below MA 9 after touching upper Bollinger Band.
RSI is at a decisive position, almost touching the trend line support.
There is no turn around confirmation for the moment including the shorter time frames. CSELK:ASI
ASPI update 3/19
Index has gotten support from the previously broken rising wedge trendline and bounced back well. However there is a slight chance of making a bearish divergence, unless last HH 9773 is broken. However next major resistance is at 10150-10200 range. Note that it will be a tough one. Once broken Next major resistance will 11000-11200 (GP resistance from ATH to last years low).
NB - I have used multiple fibs to get resistance, but zoomed in for the viewer convenience
