ASI - Upwards heading, but very slow.......

Market witnessed higher closes for the last 8 strait Days. Registering an increase of 104 points, with an average of  13 points per day. This is not at all aggressive. One sigh of relief is that many heavy weights have started moving up, but follows relatively the same pace as of the Market. However it is encouraging to note the uptrend. If the market is going to move up further, then it has to test the downward sloping trend line drawn from the highs in 2016, which suggests that the ASI must pass 6560 points to break out of the downward slope and give some bullish hopes. The next barrier of course will be the previous high of 6600 points and thereafter the high of 6700 which occurred after the fall in 2016. At 59 points the RSI is also in the medium range breaking above the half way mark of 50 points, and has a breathing space of rising to test 70 points. The uptrend had also help the MACD to move above the signal line, thus confluencing many indicators which augurs well for the Short term upside of the market.