Wednesday, April 6, 2016

ASI - 6200 has a major Resistance will it break?

Yesterdays Market took an extraordinary turn as it went up over 80 points. Today's trend was not the one many expected, but showed a different perspective, as it took a considerable down trend in the morning hours, mainly amongst the Locally driven counters, but recovered even more strongly to close higher. The present trend could be checked at 6200 points, and if today's trend was a prelude to the future then we may see a breakout of that major resistance and move towards 6400 to 6500. Nonetheless the trend is more towards trading than investment due to highly confusing developments that took place during the last few months. Therefore Analysts will be closely watching the March Quarter performance to see how the Companies as well as the whole Market would fare.



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