ASI is refusing to go below 6150

Demand and Supply is the core of any place that has buyers and sellers. Prices go up when there is demand and it comes down when you have supply. But the Strength of the Demand and Supply is checked when the price is going sideways. This is very important when it comes to the Stock Market. If at some point the price refuses to go down, that is a sign of very Strong Support, and the Support is the back bone of Demand. As long as the price is supported the power of Demand is intact.
If you look at the ASI, the Support is refusing to give into the Resistance that comes at 6150. Even today the Supply brought in a lot of resistance to bring it down to a low of 6148 but the Demand PREVAILED to hammer it up to close at 6162.10. As such the strength of the Index at 6150 held its ground. The Relative Strength Index too shows  a reduction of over soldness since December 2016. Signaling another plus point for the Bulls. As long as the ASI is above 6150, we will see action to the upside.