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Trader,Lets see where we are now and a couple of most likely scenarios. Positive market sentiment is an important factor for a country, specially for Sr Lanka. Sri Lanka is working on attracting foreign investors by making country investment friendly. Its said that country’s stock market is a good indicator of economy performance. Last Monday’s market reaction (-124 points down) and bringing [...]
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Traders,Even though market technicals have been weak, I really expected much waited budget proposal would lift the market or at least it would create a short term momentum. But it did not happen. This was an honest surprise to me.Most of you may wonder why the market is behaving like this?Lets see some possible reasons;1.Some [...]
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Traders,Though last week was a short trading week, it brought both frustration and hope. At one point, ASI dropped to 6451.55 which was below the support line we were watching. But very next day it climbed 93 points to 6565 giving some relief to the traders.If you look at the last two trading days on [...]
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Traders,After a week of trading, its a good time look back and see how the market behaved and see what we can anticipate in the coming week.We’ll start with the latest ASI screenshot; Those who think technical analysis does not work, just need to look at the above graph. I have not come across a [...]
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Traders, I found below article in http://blog.traderslibrary.com. Even though blog focuses on US market, there is plenty of good articles there. As I mentioned in my blogs, be a student of the market;make reading a priority Manoj ———— WARRIOR TRADING WITH CLIFFORD BENNETT Clifford Bennett has written an excellent book on conditioning the mind for [...]
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Last week has been a news full of week. As traders if you had followed some of the news, you could see the positive expectations lots of companies and fund managers have towards 2011 specially in the finance sector. Since Sri Lanka finance sector has been resilient to many economic challenges, its expected to outgrow ASI return [...]
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shehan wickramarachchi Hello Manoj, “Central Bank of Sri Lanka (CBSL) is in a policy decision to allow Sri Lankans to open bank accounts abroad and buy shares and debt of foreign companies as part of a loosening of foreign exchange controls, Central Bank Governor Ajith Nivard Cabraal revealed.” with this move taken by CBSL will [...]
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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. [...]
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Mondays are usually not a very upbeat day for the market. Despite that it was the first day of the month and pricewise market did a fairly good job. Three things that were not-so-good were;1. Volume was very low (So today’s action is not counted as a key accumulation day)2. Most of the market leaders [...]
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First, Thank you for joining me here. You are one of a few traders who find time to enhance your trading knowledge. Lets get started; How to read the “Market Pulse”?You will notice just above this article there is a market comment under “market pulse” How do you read it?It summarizes what exactly happened on a particular [...]
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Market closed at 6557, up by +10.84 on 27/10/2010. Market almost touched 6500 level and bounced back from there (which was a good sign). What I wrote yesterday remain valid for today too. Please take a minute to read yesterday note. This is a good time to Start building your “watch list” . Market never [...]
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Market closed at 6546 on 26/10/2010. We are fast approaching a very decisive point in ASI. If market goes below 6500 (46 more points), possibility of another leg down is highly likely. So far market has gone down 9% during last 15 days. This is quite a considerable downward correction. carefully look at the graph below; Its shows the importance of decisive support level.Up [...]
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