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ASI Update - 17/02/2025🔹 The ASI Index remains in a strong uptrend, with bullish momentum pushing prices towards major resistance zones. Key Levels to Watch: ✅ Resistance: 17,837 → 1.618 Fibonacci Extension and a critical resistance level. 17,093 - 17,092 → Short-term resistance before Fib extension. 🔻 Support: 16,728 → Key support if ASI pulls back. 16,242 - 15,523 → Major demand zones. 📈 Bullish Scenario: If 17,837 is broken with volume, ASI could continue its rally towards new highs. 📉 Bearish Scenario: Failure to break resistance may lead to a pullback towards 16,728 or lower support levels. 📝 Conclusion: ASI remains bullish, but traders should watch for reactions at resistance levels. A breakout above 17,837 would confirm further upside, while a pullback would provide potential re-entry zones. 💬 Let me know your thoughts in the comments! 👇 #CSE #ASI #SriLankaStocks #StockMarket #TradingView
CSELK:ASILong
by rukshan2102
ASI - Bull cycle for stock market in Sri lankaLong term targets for ASI indicated in above chart. Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
CSELK:ASILong
by rukshan2102
2
ASI - All time high in 2025 Q1?1. Observations on Fibonacci Levels Current Resistance at 0.786 Fib Level (~12,123): The index has successfully moved past several key Fibonacci retracement levels and is now approaching the 0.786 level. A confirmed breakout above this level, with a daily/weekly candle close, would further strengthen the bullish momentum. Golden Pocket (~10,969 - 11,189): The golden pocket zone (0.618) previously acted as strong resistance, but it has now turned into a support zone, affirming the current uptrend. Target: 1.618 Extension (~17,837): The 1.618 Fibonacci extension level at 17,837 is a likely target if the index maintains its bullish momentum throughout 2025. This projection aligns with a potential all-time high under strong market conditions. 2. Channel Observation The ASI is trading within a clear upward parallel channel, with higher highs and higher lows forming a solid bullish structure. The upper bound of this channel aligns with the 1.618 Fibonacci extension level, further strengthening the case for 17,837 as a medium- to long-term target. 3. Indicators RSI: The RSI is nearing overbought levels, suggesting that the index might face short-term resistance or a pullback before continuing its upward trajectory. MACD: The MACD is showing bullish momentum, with a positive crossover and rising histogram bars. This supports the upward trend. 4. Key Levels to Watch Support Levels: 12,123 (0.786 Fib): Needs to hold as support if the index retraces. 10,969 - 11,189 (Golden Pocket): Acts as the next strong support zone. 10,158 (0.5 Fib): A deeper retracement level, likely to hold during a major pullback. Resistance Levels: Immediate resistance is at 13,593 (1.0 Fib). The next major resistance is the 1.272 extension (~15,257) before targeting 1.618 (~17,837). 5. Risks and Considerations The overbought RSI could lead to short-term corrections. Macro-economic factors, such as local and global economic conditions, could impact the bullish scenario. Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
CSELK:ASILong
by rukshan2102
ASI Weekly Chart Update - 29/04/2024Resistance Zone - 13300 to 13600 Support Zone - 11000 to 11275 Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
CSELK:ASI
by rukshan2102
ASI Daily ChartThis chart and analysis are not financial advice. Do your own research before trading or investing. Bullish Signs: 01. Strong Uptrend: The market recently bounced from a significant low of around 10,250-10,450, marked as a major support (S1) zone. Prices have surged past 11,000, and the current price sits above 11,773. 02. Moving Averages Support: The price has climbed above the moving averages, often a sign of strength. We can see the shorter-term moving averages (yellow and purple) crossing the longer-term ones (blue). This "golden cross" suggests potential continued upward momentum. 03. Fibonacci Levels: The price is now testing a key resistance level between 11,620 and 11,750. A break above this zone could lead to further bullish momentum, potentially targeting the next resistance zone around 12,000-12,100. 04. RSI Indicator: The Relative Strength Index (RSI) is 74.19, indicating that the market is overbought but bullish. It shows strong momentum but also signals caution. 05. Pullback Zone: The chart suggests a potential pullback zone, where prices might correct before continuing higher. This is healthy for the market as it helps cool off overbought conditions. Risks & Considerations: 01. Resistance Ahead: The 11,620-11,750 level and the 12,000-12,100 zones are critical resistance points. If the price fails to break these levels, it could reverse and move back towards lower support levels. 02. Overbought RSI: While momentum is strong, the RSI nearing overbought territory means there could be a short-term correction or consolidation. It's important to watch for any signs of weakness. 03. Pullback Possibility: If prices pull back, key support levels to watch are around 11,340-11,470 and 11,080-11,100. A fall below these could signal a deeper retracement, potentially back to 10,800-10,700 or even the 10,250-10,450 support.
CSELK:ASI
by Captain_Pathum
1
Since May 2024, a downward wave has been recovered over 70% Since May 2024, a downward wave has been recovered over 70% within less than a week and a half with aggressive bullish momentum on CSE index, Since May 2024, a downward wave has recovered over 70% within less than a week and a half with aggressive bullish momentum on the CSE index. Political correction efforts have been established with the presidential election in Colombo assuring the trust of CSE investors. by Udaya Nothern emir 26th Sep 2024
CSELK:ASI
by udaya1900
1
ASI - Elliot Wave PatternThe completion of this pattern typically suggests that the market might enter a corrective phase or a new trend might begin. It’s crucial to keep an eye on the key support and resistance levels and be cautious about the potential market movements. Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
CSELK:ASIShort
by rukshan2102
All Share Price Index - Day Chart This chart and analysis are not financial advice. Do your own research before trading or investing. ASI Daily 01. ASI is taking support at 200 DMA. 02. The bullish divergence shows activation but needs confirmation, which can happen when the latest Lower High is broken. 03. There are signs of lesser selling coming into the market and no more bargain hunting available. To get confirmation of this we need to keep and eye on the daily TO and volumes and number of trades.
CSELK:ASI
by Captain_Pathum
ASI DailyThis chart and analysis are not financial advice. Do your own research before trading or investing. 1. The range of the HnS in lying in level of 11522, which is about 200 points above the next support level. 2. The current support which is 11650-11750 may make a confluence zone with the descending widening wedge support line. 3. RSI is reaching the oversold zone and the MACD is showing reversal. But by changing the MACD oscillator to SMA, instead of EMA the picture will be a bit different. 4. The question remains, will the current support hold or will the index move further to the extreme level of 11300 as some techies predict? Patterns within patterns HnS - Bearish Descending broadening wedge - Bullish Descending wedge - Bullish Now we need to monitor what will happen in the future.
CSELK:ASI
by Captain_Pathum
All Share Price IndexThis chart and analysis are not financial advice. Do your own research before trading or investing. The ASI bulls have dug in their heels at the crucial 11650-11750 support zone, finding their footing after 18 days of decline. Three days of consolidation paint a picture of accumulation, potentially forming a base for a launch towards 12,000. With no bearish divergences on the horizon, a momentum shift could be brewing. While trading remains muted, this could be a prime buying opportunity for value-seeking investors.
CSELK:ASI
by Captain_Pathum
ASI DailyThis chart and analysis are not financial advice. Do your own research before trading or investing. The ASI is printing lows each day. The support 12000 was demolished and now heading towards the 11650-11750 range while RSI is printing in the oversold area but without any divergences in the daily chart. Also, looking close enough it is visible that the descending broadening wedge, which is a bullish signal, has the support line in the 11650-11750 zone. These levels won't be supported unless there is potential buyers who come in and move the prices. Watching out for potential macro and micro information regarding the ASI is important.
CSELK:ASI
by Captain_Pathum
All Share Price IndexThis chart and analysis are not financial advice. Do your research before trading or investing. "The ASI index took a surprising dive today, dropping a steep 110 points despite positive news about the ISB restructuring. This unexpected decline comes with a twist: foreign investors were highly active, with their purchases making up half of the day's total trading. While technical indicators suggest the market might be oversold and ripe for a rebound, the reasons behind the drop remain unclear. With the ASI potentially nearing a support zone between 11,650 and 11,750 points, investors should stay informed and conduct their own research to understand the market forces at play before making any investment decisions."
CSELK:ASI
by Captain_Pathum
CSE All Share Price Index (ASPI): Continuation of Good Momentum Title: CSE All Share Price Index (ASPI): Continuation of Good Momentum Greetings, Traders! 🌟 Hello everyone, The CSE All Share Price Index (ASPI) continues to exhibit strong momentum, indicating favorable trading conditions in the market. $CSE_ASPI Key Observations: - The ASPI demonstrates sustained momentum, reflecting positive market sentiment and robust buying interest. - Traders are closely monitoring the index's behavior, seeking potential opportunities to capitalize on the ongoing bullish trend. - The current momentum in the ASPI may present favorable conditions for both short-term and long-term trading strategies. Technical Analysis: Technical analysis of the ASPI's price chart confirms the presence of a strong bullish trend, with price action consistently making higher highs and higher lows. Technical indicators support the continuation of the bullish momentum. Fundamental Factors: In addition to technical analysis, fundamental factors such as economic indicators, corporate earnings, and government policies contribute to the ASPI's movement. Traders should remain vigilant to changes in these factors. Trading Strategies: Given the favorable momentum in the ASPI, traders may consider adopting trend-following strategies, such as buying on pullbacks or breakouts, to capitalize on the upward movement. Risk management is essential to safeguard against potential reversals. In Conclusion: With the ASPI demonstrating strong momentum, traders have the opportunity to explore various trading strategies aligned with the prevailing trend. However, it's crucial to remain disciplined and adhere to risk management principles in all trades. Engage with Us: 🟢 If you find this analysis insightful, please give it a LIKE. 🟡 Don't forget to FOLLOW for more updates. 🔵 SHARE with fellow traders who might benefit from this information. 🔴 Feel free to COMMENT with your thoughts and insights! Your active participation enriches our trading community, fostering knowledge exchange and collective growth. Share your feedback and ideas in the comments below or by boosting this post. Looking forward to connecting with you in the next post. Happy trading!
CSELK:ASI
by MarxBabu
ASI Weekly Chart Update - 07/03/2024ASI touched 11000 level after few weeks. This is a critical level and it needs to close upper trend line in this triangle pattern. Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
CSELK:ASI
by rukshan2102
CSE - Monthly ChartCriteria for another Bull market in Stock market of Sri lanka 1. Need to close few more Green candles above 9150 in monthly chart & It should protect 21 EMA in monthly chart 2. RSI should be more than 50 in monthly chart 3. Finally monthly candles should break strong resistance level 10650 Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
CSELK:ASILong
by rukshan2102
ASI Update on 26022024Support Zone - 10150 to 10350 Resistance Zone - 10800 to 11000 Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
CSELK:ASI
by rukshan2102
ASI - Strong support levelASI need to stay above purple line in monthly chart. Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
CSELK:ASI
by rukshan2102