A lackluster week closed with a gain of +119.15 points or just +0.3% but a signal is starting to resonate for a weak bullish comeback. Support and resistance remain valid as marked on the chart below. We look forward to selling on strength stance for the week ahead and will refrain from fresh buying until the dust settles.
After heavy negative spells, the week emerged with an average gain of +89.04 Bn/PKR growth in the market but still remains below the 8000+ Bn/PKR critical benchmark. This is more or less a hard resistance to market capitalization for foreseeable future. Although the linear trendline is now showing a strong cross over its long-term horizontal resistance, we all understand that markets do not have a linear relationship. Therefore, what the trendline may show is a matter of observation over time. During the week SBP injected 166.65 Bn/PKR for one day and 1975.05 Bn/PKR for seven days via OMO injections. Whereas a critical event ahead is the MTB auction on 21-Apr. Fingers crossed and hoping for the best!
We wish our followers a very happy Ramadan 1442 and if you enjoyed reading this update, let us know in the comments sections below.
Thanks for the headsup. Gonne clear out pending positions on strength.
ReplyDeletePrecise and too the point. Thanks
ReplyDeleteHope this fluctuation ahead does not harm the market persistently.
ReplyDeleteUp to the mark analysis as usual we expect from Master
ReplyDeleteDear master! Thank you for valuable information
ReplyDeleteHappy Ramadan
Nice analysis sir
ReplyDeleteNice
ReplyDeleteGreat master.
ReplyDeletePerfect Analysis dear
ReplyDeletespot on as usual
ReplyDeleteGrear Analysis
ReplyDeleteJazak ALLAH what are mid resistance levels from pivot to top
ReplyDeleteIt means market will bullish in coming week, great......master your analysis is very helpful for us ,thanks to you ,happy Ramadan to you
ReplyDeleteMaster we shall wait for this b/c they make a full confidence in weak during market
ReplyDeleteThanks for the update master. JazakAllah. Your blog has Always been very helpful. May Allah bless you.
ReplyDeleteGreat
ReplyDeleteThanks Master. Your observation and suggestion is always good food to digest.
ReplyDeleteGreat let's go for sell on strength strategy as advised.
ReplyDeleteDear Master
ReplyDeleteShare the glossary or preface of terms & ranges used in your algo charts for new comers & starters in telegrams for better understanding & learnings. I.e. alpha ranges, magnitute and so on.
Same is desired. Self searched though but could not find precise content.
DeleteIts awesome and helps in taking good and timely decisions.
ReplyDeleteBravo! Now you have become blog master along with stock master.
ReplyDeleteThanks master for updating us with market current scenario.
ReplyDeleteSell on strength
ReplyDeleteThank you
Thanks for your views
ReplyDeleteLovely analysis. Algo ka tutorial youtube channel per de dain.
ReplyDeleteSm hit the bulls eye.Market today confirmed ur stance
ReplyDeleteSM accurate analysis. Always bulls eye
ReplyDeleteAppreciated sir.
ReplyDeleteGreat Master,
ReplyDelete