KSE100 observed a range-bound session across the week, moving between its resistance of 46800 +/- 300 and pivot at 46100 +/- 100. The continues to show a weakening trend. Support and resistance as iterated before remains valid and also marked on the chart below. Looking forward, we expect the index to open green during the week ahead then carry its course of correction as usual. Weekly closing was observed with a net gain of +419 points or +0.92%.
Weekly closing saw a net loss of -13.85 billion/PKR - a negligible figure but affirms the view towards the ongoing correction cycle. The reporting format of the chart has been updated to reflect 60 weeks of trailing capitalization. The linear trend line has started to slope upwards and we expect a strong bullish rally due, once it crosses the vertical resistance line. (Color of the linear trend line has been changed for better visibility.)
Happy trading and if you enjoyed reading this update do let us know in the comments section below.
[Edit 1-Mar: inaccurate capitalization data is corrected and the chart is updated to reflect the correction.]
As usual great analysis
ReplyDeleteGood analysis
ReplyDeleteVery good analysis ��
ReplyDeleteExcellent analysis
ReplyDeleteAccurate and brilliant analysis Master. Kudos to you!
ReplyDeleteAs always a very refreshing and unique perspective. Thanks for your contributions master.
ReplyDeletePerfect Analysis Master
ReplyDeleteOn point as always
ReplyDeleteInformative and deadly accurate
ReplyDeleteVery precise and up to the mark analysis!
ReplyDeleteThe linear trend line is very close to resistance and is about to breakout soon (Perhaps next month). So can we expect the next bull rally in the month of March?
ReplyDeleteAlways follow ur analysis
ReplyDeleteGreat analysis Sir,
ReplyDeleteKeep it up please.
Great analysis !
ReplyDeleteKeep it up master.