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Karachi 100 (KSE)

Karachi
Currency in PKR
Disclaimer
70,944.20
+654.08(+0.93%)
Closed

Karachi 100 Discussions

Weekly Outlook (October 15 to 19): The bearish carnage is about to come to an end, during coming week. The buying levels shall be between 37,400 & 36,900, with risk defined below 36,600 on session closing basis as this would be breaking all major supports and would be exposing 36,100 & 35,800. Index has room to correct towards 40,450 – 40,630 during the rest of the month. However, such recovery would only be considered as “short-lived”, rather a dead cat bounce, if volumes are not increased with the upward movement as that will correct the RSI rapidly and will again invite aggressive sellers. Closing a session above 40,800, with hefty increase in volumes would be easing the selling pressure and would call short term, yet aggressive, buying towards 41,050 & even 41,200. While on immediate terms, the resistance for coming week is likely between  38,400 & 38,740 area.
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