ASI - 6500 points looks a major support

IMF assistance to the economy is an obvious breath feeder for Sri Lanka, and could be the game changer for the ASI as well. Fundamental changes that could follow through to energize the economy can trickle down to many Companies and Sectors listed in the bourse. In this context the ASI too is not wanting to give into the bears as it remained almost at the close of 3rd instant.. Looking at the intra - day the market close was somewhat bearish as the index was about 25 points higher, but could not last long as the Turnover levels did not help the momentum positively. RSI is at the neutral area of 46 points, and the 9 day moving average is at 6547 points. On the down side the next major area of support stands at 6400 - 6450 points, whilst the upside is the previous high of 6700 points.