Sink Below 7000

Sink below 7000 and what do Charts say now?

Looks like budget is going to be anti investor. Market has sensed it.

Market would go to 10,000 points if the space debris had fallen on Ravi K        

7000 is the final bottom, most of shares hold it's ground, But ASI is falling because shares like COMB, NEST down.

Let's wait for the budget.

Charts will say 6970 is the lowest till then. 7000 has support

Managed to scramble back again above 7000 and let's wait and see after the much awaited Fat R budget.

Future123 wrote:Looks like budget is going to be anti investor. Market has sensed it.

Market would go to 10,000 points if the space debris had fallen on Ravi K        

agreed. another bear is imminent i guess.

I just saw this Kithsiri,

See the 2nd part on the below post. It is relevant to your question . I did not make chart but it based on Technicals too.


http://forum.lankaninvestor.com/t2780p120-acl-kcab-and-apla-future#54802

I will tell one thing.
Whenever the market bounces ( hoping for no more bad news in budget) it will have room to gain massively if needed

Else second para in post will help.

Thanks SLS.
(I am in fact not so concerned about the fall, as I am in for long term here. I was just wondering what charts have forecast only).

slstock wrote:I just saw this Kithsiri,

See the 2nd part  on the below post.  It is  relevant to your question . I did not make chart but it based on Technicals too.


http://forum.lankaninvestor.com/t2780p120-acl-kcab-and-apla-future#54802

I will tell one thing.
Whenever the market bounces ( hoping for no more bad news in budget) it will have room to gain massively  if needed

Else second para in post will help.

Today's drop is more than i expected..so my numbers may be broken.

sashimaal wrote:Let's wait for the budget.

Charts will say 6970 is the lowest till then. 7000 has support

Paris has created Panic.

Terribly down below up trend channel..., Now what....?

Day ended at 6965

COMB crossing at 145 shows where it might go in ST. ASI can move towards 6900 (+/-  30 points)

Good thing is as SLS has mentioned, once it starts running, could go up a lot.

Over to RK...if he messes... !

Don't panic guys... Be greedy... Collect more at the bottom...

Yes good time to collect.

LSE - can you pls your analysis. Thanks

LSE wrote:Don't panic guys... Be greedy... Collect more at the bottom...

LSE wrote:Don't panic guys... Be greedy... Collect more at the bottom...

bottom නම් තමයි, ඒත් තව වැටෙයි කියලත් බයයි

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mymoney wrote:

LSE wrote:Don't panic guys... Be greedy... Collect more at the bottom...

bottom නම් තමයි, ඒත් තව වැටෙයි කියලත් බයයි

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Thanks LSE

Yes mymoney, I also think so.

another one of series of Bad news :

http://forum.lankaninvestor.com/t6665-turnover-tax-threat-for-tourism#54989

Can market rebound with these type of news ?

So, Kith wanted to know what would happen next, just for fun.

Therefore, I have done my analysis below, also for fun.

----------------------------------

Sometime ago, I posted my view about a time window for the market to reverse up (Sept 20~ Oct 10); and we missed that up (Or someone messed it up?)

http://forum.lankaninvestor.com/t4908p315-this-weeks-most-discounted-101-shares-by-hunter

Until that window, market had had a short term down trend. (Non-overlapping waves).
Usually, unless it is a very strong downtrend, a downtrend is followed by an upward correction (Overlapping waves).
But, right now, what we experiencing is a downward correction. (Lower tops and Lower bottoms)

So, what I can see, in the chart, is the possibility of another short downfall very soon (Down to 6750).

However, since the net results of this quarter seem to be positive, I expect the market to bounce up again to continue the 'sideways swing' (Up to 7650).

All these are illustrated in the following chart.




(As said, this is done partially for fun)

Thank guys.
(So the consensuses is to buy more and wait for it to bounce back).

I hope 6750 won't be best bet.

If that happens,

If so, why buy now?

Anyway, budget will be the key at the moment.

කිත්සිරි ද සිල්වා wrote:Thank guys.  
(So the consensuses is to buy more and wait for it to bounce back).

I will wait till the budget to identify the best sectors. I sold some of the risky shares and holding export related shares and long term holding shares. Definitely export related shares will be the best after the budget.

The government is planning to introduce a disastrous tax called Business turnover tax (BTT) which was abolished long ago. This would have a serious impact on profits of all the companies. Unlike VAT this BTT would be duplicated and charged whenever there is a sale. VAT is charged only once and for subsequent value additions.

If this deadly BTT is introduced ASPI could go to even 6000 in the medium term. I can't understand why the government is very angry on businesses and investors. Many of you yahapalanaya supporters say country first and don't be selfish blabla....

Just forget about businesses, the poor people will be paying additional money to buy any product as a result of duplication of turnover tax. Is there any shop selling plain tea at 10/=, milk tea at 25/=, dhal, sprats at the prices specified in interim budget?

In brief, I would wait till the budget to identify the sectors which would benefit from the budget. Read the following article carefully.

http://www.ft.lk/article/497195/Turnover-Tax-threat-for-tourism

Better to liquidate and ready with cash..., Coming colors are not good

Future123,

Let's wait till the budget.

Govt can introduce a lesser percentage or some other way where more people would have to pay but people who currently pay don't pay more.

Future123 wrote:I will wait till the budget to identify the best sectors. I sold some of the risky shares and holding export related shares and long term holding shares. Definitely export related shares will be the best after the budget.

The government is planning to introduce a disastrous tax called Business turnover tax (BTT) which was abolished long ago. This would have a serious impact on profits of all the companies. Unlike VAT this BTT would be duplicated and charged whenever there is a sale. VAT is charged only once and for subsequent value additions.

If this deadly BTT is introduced ASPI could go to even 6000 in the medium term. I can't understand why the government is very angry on businesses and investors. Many of you yahapalanaya supporters say country first and don't be selfish blabla....

Just forget about businesses, the poor people will be paying additional money to buy any product as a result of duplication of turnover tax. Is there any shop selling plain tea at 10/=, milk tea at 25/=, dhal, sprats at the prices specified in interim budget?

In brief, I would wait till the budget to identify the sectors which would benefit from the budget. Read the following article carefully.

http://www.ft.lk/article/497195/Turnover-Tax-threat-for-tourism

budget can be a serious threat for ranil and Ravi. i saw in a news paper that some ministers are trying to defeat the budget as a first step to change the government.

With the kind of people around, it is a real possibility.  
(Stolen and now hidden money can come into play a roll too).

poor boy wrote:budget can be a serious threat for ranil and Ravi. i saw in a news paper that some ministers are trying to defeat the budget as a first step to change the government.