Friday, June 30, 2017

ASI - Uptrend Started....63 points gained within 2 days

My last post on ASI, I mentioned that it is trending or was in a trend continuation for almost 30 days. Infact it lasted for  33 days averaging a meager 2.7 points a day. That's history now. On friday(yesterday) the index moved over 63 points whilst intraday it was a 44 points gain. This is a strong move, seen all around. During the day it punched a high of 6754, thus wiping out the previous high of 6747, that had to be broken to resume the uptrend. The close was exactly 6747, which is another bullish development. All in all THE ASI SHOULD EXTEND IT'S UPTREND. Where can it go upto? one might ask, I'd say the 1st is 6800, and WON'T be surprised to see 7000 kissed in the least during the month of July. Remember that July had been a friend of the bulls in the past 2 years as well.


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