ASI failled to rally above 6409.43. Will hit new lows if it fails to hold above 6235.13

The plunge of the ASI resuscitated once it hit a bottom of 6235.13, making it the present swing low. Thereafter it edged up vigorously to hit a high of 6409.43. A recovery of 174.30 points in 2 days, which was an area of the 50% Fibonacci between 4th Jan to 19th Jan down. However we now can see the index could not hold above the 1000sma, and had failed to hold above the present trend line on the intra-day chart.. This is not good for the market. As such we need to see the ASI hold above 6235.13 to hope for a positive momentum.