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Thursday, January 2, 2020

KSE 100 - Index Outlook 2 Jan

Market maintained bullish momentum, breaking its intraday resistance to close higher. Weekly channel top now falls at 43600 +/- 100 points with potential for mild correction here. Support lies at 42300 - 41900 +/- 100 points. 

Market capitalization took a giant leap of +159.66 billion PKR, biggest ever recorded in single day. However, it is once again hoovering in a critical area vulnerable to bear attack. 

Looking forward, we expect the market to remain positive until the end of week 02-2020 with expected mild corrective dip in between. Presenting opportunity for patient investor to buy again. Week closing on Friday will provide some interesting insights. 

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