ASI was successful to have got supported @ 6800 points, thus far.....

ASI has held the support at 6800, and trending in and around the 500 sma, thus far. But given the volumes during the whole of December, we see the market is performing as per the seasonal sentiments. If that is an advanced indication of the way forward to the next month, then the Month of January would be a better month in compliance with what we usually see. But the level of participation by the Traders, are not that encouraging, which makes the market a place for bargain hunters to take positions with a medium to long term view.

 As the market is not showing any steam, they too are taking a very slow and cautious approach. Almost all the High Net Worth Individuals or Institutional Funds are not active, so too are the Foreigners. Then you have the ever volatile Global Markets, also the other issues inside the Country. All these negative factors have made the market more fragile. In this confusion, the market to hold above 6800 points, appears to be a great sigh of relief.