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Karachi 100 (KSE)

Karachi
Currency in PKR
Disclaimer
72,086.02
+726.62(+1.02%)
Closed

Karachi 100 Discussions

Outlook For Coming Week (Oct 22 to 26): Closing of the week was with a Hammer pattern with high volumes, which is supportive for further recovery. However, that recovery would not be indicating any sort of bullish reversal, unless the week closes above 39,800 and that too with at-least the same amount of volume that was seen in the past week. First resistance for the week is seen at 38,170 – 39,700 area and shall profit taking shall be taken at these are the levels where Weekly Resistance Level 1 & 200-Weekly Moving Average are lying, respectively; especially the 200-Weekly MA as this was the main trigger to invite deadly bears, when index failed to hold it on Weekly Closing basis. And hence, index needs to close a week above said level to bring a crazy bullish reversal. Support is seen at 37,800 – 37,630 area. However, closing of a session below 37,600 would be a big dent to the recovery and would immediately expose 37,200 and then the Weekly Support Level 1 at 36,930 – 36,880 area.
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