By:
Stock Master
KSE100:
Market
had key support at 29500 which got overlooked due to continuous falling with
low volume in two previous days. After flip-flop a few times, support was
honored as bears failed to break, and market made a 500+ points rally with
KSE100 volume hitting 107M. The choppy action served plenty of warning and
short were covered in time before major damage could be inflicted. For upcoming
season, we look forward to market reaction at EMA21. Poor cement sales numbers
and long weekend (9&10 Sep) for Ashura holidays means market is not
expected to build any solid momentum.
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