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Wednesday, January 1, 2020

KSE 100 - Index Outlook 1 Jan

First trading day of the year 2020 started with a powerful kick off, with index honoring its previously tough resistance of 40900 +/- 100 as intraday support and bouncing off to close over its intraday day resistance of 41300 +/-100 points. 

DoD basis, market cap return to positive growth posting +72.23 billion PKR boost, which shows significant return of buyers. Looking forward with we maintain bullish outlook on the market with 41800 +/- 100 as key resistance area which must break for rally to sustain.

Intraday support and resistance lies in the range of 41100 - 41900 +/- 100 points. 

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