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Friday, July 26, 2019

Weekly Analysis Friday, July 26, 2019



By: Stock Master

1. KSE-100: immediate support at 31700 watch this level for bounce and shot at strength. We expect market to be downwards on Monday but exhibit some correction on Tuesday.
2. DGKC: Support around 41. Very low RSI so corrective bounce is expected.
3. ATRL: Expected to get strong support at 60 from where direction of trade should be decided.
4. SEARL: First support at 120.  Expected to continue downward slide after correction until 103-107 range.
5. ENGRO: We reinstate earlier prediction that 250 hold strong support so should wait to hit that.
6. ISL: We reinstate earlier prediction to expect steel sector to remain down, interesting range to watch ISL is between 20-26. Short at strength above 25 only.
7. ASTL: Interesting levels to watch around 15 and only short at strength above 20 only.
8. HBL: We stated earlier a buy call of 112-114 and profit taking at 120-122 which was completed. Currently downwards and support it expected again at 110-112 levels. Keep under watch.
9. MLCF: expected to break below 15 for attractive buying. We do not advice to short at such low level.
10. LUCK: has honored its support at 370 and took a bounce. Result is coming on 27-July so nothing can be predicted until actual results are out. FIPI has strong interest in this, any dip should be good for long term accumulation.
11. FFL, FFBL: We don’t have any hope on these.
12. NRL, ATRL : Refineries are in hopeless situation.
13. Hascol: is reaching extreme oversold and interesting zone is 44-46.
14. Lotchem: gets critical every time it crosses 17 and same it expected now. Next support zone is around 16 and should be observed from there. Current it stands at extreme overbought and good candidate to short sell.
15. GTYR: we expect GTYR to break its next support at 35 and settle around 30. Keep short selling but cover at support and watch for direction before deciding next trade.
16. TRG may exhibit some corrective bounce but its next support is at 11 – 12. Do not advice short selling it here.
17. PAEL is rumored to issue new rights. So no analysis on this one until news clears. But overall direction is bearish.
18. EPCL: hit its intraday bottom at 25.50 and will continue to move downwards...plenty of space to short. Next bottom is expected in the range of 21-22
19. EFERT: is approaching it channel bottom in the range of 62 – 64. Wait for it to bottom out and then observe for direction of trade. Space is available to short.
20. HCAR: Observe it for bottom in the range of 110 – 115 and from here a good swing can be played up to EMA13/21