ASI - Support @ 6150, and Resistance @ 6300

Today I am sharing a chart from one of the veteran chartists. Based on the chart you will notice that there is a BLACK Dashed line which is plotted from Jan 2016. This line touches 3 tops in 2016, and one bottom of 2017, which are all circled. The present end of this descending line is around 6150. We feel that this line could be supported, as such 6150 will be defended. To add more weight to this expectation the RSI is oversold, and testing an area we saw in August 2017. During that period the RSI reversed along with the market, which rallied from a low of 6357 to a high of 6635 points. But the reversal we are expecting around 6150 will not see a rally like that initially. But 6150 area has a very strong support base. If the reversal takes place, we expect the ASI to trend upto test 6300 which is the end of the MAGENTA dashed line or thereabouts. This rally we expect is a rally to sell into. However if we see any change to the reversal up or down we will keep you posted. In short what we say is: Support @ 6150 and Resistance @ 6300