Weekly Market Pulse



Sri Lanka Market Pulse- Week Ending Dec 11, 2010
For the week :
ASI down by -1.13% (73.55 points) in high volume
MPI down by -1.30% (90.79 points)
Advanced Declined Ratio : Down
Current Outlook - Market Under Short Term Correction
Market Sentiment: Negative
Long Term Trend: Up


Tuesday, November 2, 2010

Tue, Nov 02nd 2010 - Market Technical Analysis

Yesterday market behavior was not a good sign. It shows there are sellers waiting to get out when prices recover at certain previous highs. When a market is in a recovery process, signs like that indicate buyers hesitancy to bid higher and also lack of buying enthusiasm. Yesterday sellers dominated the market.
                                                          (yesterday ASI intra-day graph)

Also longer a market stays around support areas, it loses its strength. ASI is about 200 points above the major support line.If it can hold on to this safety area, it would show market ability to absorb sellers pressure.
Watch first 1-2 hours of trading, and it will set the tone for rest of the day.Trade with very caution.

To your success
Manoj Balasooriya
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1 comment:

  1. prasaNovember 2, 2010 at 9:00 PM

    Tx manoj. i have a question. Usually it says the accpeted PE ratio for stock markets around the world is 15. On what basis this figure is arrived?

    ReplyDelete

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