ASI - resistance at 6065 points, support at 5857 points.

The fall from the precipice for the ASI took a breather, as it stopped at 5857 points, and hit up to close the week at 6020 points on  Friday the 11th March 2016. All's well if we see the index holding high from that swing low of 5857 points. But if we see it breaking down from that the pain will be felt decisively from there on. 5500 to 5000 points will be the next down side support areas. But the fundamentals for so many counters have made them so attractive at present, also the negative sentiments stemming from the drastic measures taken by the GOSL makes investors to be cautious as well. In this back drop trading must be very tight, and must invest with a lot of discipline. Investors must look at the counters where the prices are way below NAV, whilst traders must strictly follow stop loss levels.  Must remember -  traders will have very good opportunities if they have tight exit and stop levels.

However at this point we have to focus on the resistance point of 6065 points to understand the way the market is going to behave.