One of the worst post-COVID19 performances of the markets with obliteration of -2,049.27 points or -4.47%. The free fall breached all supports and fell as low as 43000 +/-300 - pre-COVID19 resistance acting as support. Although we had assigned a low probability of KSE100 breaking below its major support of 43800 +/- 300, the risk was always on cards and warned appropriately. Although losses were pared on the last trading day when the index made a sharp recovery of +1008 points to close at resistance (previous support), the trend is already wearing out. We suspect the market may go through a reset cycle which may lead to a fall as low as 40K shall the momentum remains in decline. On the positive side, sustaining above its major pivot zone of 45100 +/-100 may signal a fresh accumulation cycle towards a new high. Looking forward, the strategy shall be to book profits on strength or wait and see approach. Please read the last few week's updates to establish a better understanding of this posting.
One of the highest weekly declines was observed with a net loss of -338.22 PKR/Billion from weekly average capitalization. It appears that the 8000+ billion/PKR mark is really a tough line for bulls to cross. This is the third time major rejection has been observed at this level.
Thanks master
ReplyDeleteLovely write-up. Thanks for sharing and helping us stay afloat in the market. Stay blessed.
ReplyDeleteBest n upto date analysis always
ReplyDeleteAbsolute fun to read this
ReplyDeleteUnique and too much knowledge sharing JAZAK ALLAH KHER
ReplyDeleteThanks boss
ReplyDeleteExcellent analysis 👏 JazakAllah
ReplyDeleteGood one...
ReplyDeleteThanks
ReplyDeleteGreat analysis yet again.
ReplyDeleteThanks.
MA
ReplyDeleteUpto the mark analysis as usual
Many Thanks Master!
ReplyDeleteBest as always
ReplyDeleteGreat analysis
ReplyDeleteReally appreciated effort and work. Thanks for updating us.
ReplyDeleteVery nice
ReplyDeleteThanks sir
Very nice
ReplyDeleteThanks sir
Thumbs up...nicely summerized 👍
ReplyDeleteVery accurate, you told earlier about the spike and we are observing spike in KSE100. And surely as you predicted looking forwar for a corrective dip to come
ReplyDeleteYour posts often act as a light in dark for me. Cheers
ReplyDeleteMashaAllah good to know. Great to review few more such readings
ReplyDeletePrecision and accuracy of the blog is superb
ReplyDeletewow sir 👏 what an idea....analysing the market in such a way 👏 MA
ReplyDeleteA comprehensive yet cautious analysis.
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