Search This Blog

Monday, January 13, 2020

Week 02 - Closing Notes

Important Notice

  • Due to toothache I was not able to sit online much.
  • We will be only doing weekly updates unless really important. 

Index remained  bullish, closing at its intraday resistance and expected to keep the run until it hits its exhaustion in the range of 43800 - 44300 +/- 100 points.

WoW basis, average market cap grew by meager +16.43 billion PKR. Market once again entered the saturation territory of 8000+ billion PKR. Overall, it seems that bulls exhaustion is coming soon. 

Looking forward, we expect the index to post moderate growth during week 03-2020 with critical event of MTB auction falling on 15th Jan, second auction falling at 28th Jan and PIB auction falling at 21 Jan. Together, this represents a serious capital drain risk on the market. 

No comments:

Post a Comment