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Wednesday, April 1, 2020

Week 14-2020 Mid Update

We reiterate our views posted in previous update ( link ) with 29800-30100 +/-100 being a critical resistance to test the market during the current week. 

Capitalization wise, the market has posted a whopping increase of +190.21 billion PKR on Mar-31 which is attributed to March futures settlement in our opinion. The uptrend in capitalization has not shown a consistent pace of growth today with an increase being marginal while the market maintained a see-saw trend intraday. Together these two signals register as signs of exhaustion and we shall watch the market cautiously at its critical resistance. 

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