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Thursday, November 28, 2019

KSE 100 Index - Update 28 Nov

Market honored its predicted resistance at 38900 +/-100 points as per our post on 27 Nov. Fluctuations were relatively narrow through out the day signalling a smooth end of roll over period. We expect market to take moderate correction during the first half of Friday 29, Nov while second half may remain business as usual. 

38900 +/- retains its position as intra-day resistance and sustaining a close over this will create further space for bull rally next week. On down side support lies at 38400-38050 +/-100 points respectively. If tough resistance is observed, we may see a deeper than expected correction during week 49.

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