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Friday, November 29, 2019

KSE 100 Index - Update 29 Nov

Market did defy our expectations of corrective dip during first half of Friday, instead it maintained an upwards trajectory all day, hit intraday resistance at 39400 +/- 100 points and maintained a closing above its critical weekly resistance of 38900 +/- 100. Which means the bull rally will continue in the next week. Overall, today's performance was above our expectations. 

38900 +/-100 points acted as resistance until Thursday, 28 Nov but market had a start on Friday, 29 Nov from this value as support which means the uptrend was wide and clear from the onset of market opening. Positive sign indeed!

Our updated expectations on week 49 will be published as a new post by Sunday evening. 

Wish you a cheerful weekend ahead!

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