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Tuesday, November 19, 2019

KSE-100 Index Update 19 Nov

Inline with our prediction on 18 Nov, market remained overheated with range bound activity between its intraday support and resistance spectrum finally closing indecisively at pivot. Price dips were seen in certain sectors which signals saturation and investor preference to take profit.  With Futures Market roll over week falling ahead, we expect correction to coincide with roll over week and present an opportunity to buyers for accumulation on dip.

Short selling shall only be exercised by cautious investor with discipline and experience. 

Bond yield started to rise again after State Bank busted the speculative bubble on interest rate drop by confirming that any drop shall not come before February 2020 review. 

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