ASI - Weekly Update....heading towards 6700 Resistance, Get in!!! Avoid Regrets!!!

Normally we were taught that the Foreign Fund Managers and the Local Institutional Investors/Funds start buying from/after the 2nd week of the 1st month i.e. January for the New Year. But it is different this time. The Foreign Funds have started shopping from the very 1st week. Amongst their  picks there are 4 banks, and 4 large cap stocks. If you want to know who they are click on : https://gallery.mailchimp.com/e967ee100b16f124932888c5f/files/ab66a505-a2fe-4587-8412-7ecb80c1a185/WeeklyChangeinForeignHoldingofSharess_05012018.pdf

REMEMBER THIS!!!
If the Foreigners are collecting, they are bullish not only on the Sri Lankan Market, instead they are bullish on the Emerging and Frontier Markets as well. What is important for us is that IF they have allocated funds for Sri Lanka, amidst their overall weight-age towards EMs and FMs, THAT IS SERIOUS BUSINESS.  As long as this trend persists then my friends expect this market to hit higher.
FOLLOW THE FOREIGNERS NOT THE LOCALS.

The week just finished saw the ASI hitting a gain of 145 points against the last weeks gain of 50 points. The market thus have increased 2 weeks in a row, after a stretch of weekly drops for 10 straight weeks. 3 big banks and the largest conglomerate are leading in front, which is very bullish.

ASI will test the resistance between 6627 and 6770 during this uptrend, and do not regret for not getting on board timely. Stocks to pick will be covered in my other posts expected today and tom.