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Monday, May 3, 2021

KSE100 Week 17-2021: Bulls Get Steaked as Losing Streak Continues!

 Bears roasted a special steak party on Friday as the index unexpectedly lost over -600 points intraday amid a change of trading hours. Overall week losing observed a loss of -444 index points or -0.99%. Which is slightly lower than the week before that. The index has retained itself below the pivot point therefore it remains bearish. 43800 +/- 300 is major support that may render a weak bounce. We expect the market to show some positive recovery between mid-May to mid-June, most probably on post-Ramadan re-opening. All major support and resistance levels are marked on the chart below.




The average weekly market cap once again dropped by -24.66 Bn/PKR but when compared to the index point drop, the losses are really meager. Which signals are bottom out soon but the pressure persis so a wait and see approach is advised. 

Financial events which may impact the equities market are MTB and PIB auction on 6-May. OMO injection of 1,622.80 Bn/PKR was on 30-Apr.



14 comments:

  1. aoa acripts k buy sell levels kahan dekh sakty samaj nai ari ??

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  2. Marvelous analysis.
    I really love your analysis.
    It's amazing

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  3. Expecting bounce from here but as you mention will be short lived.
    Nice analysis brother..

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  4. Bearish unless pivot is surpassed or must pass the previous high at 47k to be bullish?😁

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  5. from where market can rebound

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  6. Very useful and informative info for market move expected in mid may till mid june

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  7. Thanks master for valuable analysis.

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  8. As per blog i think wait and watch strategy seems best
    Blog has given a clarity of direction for investing

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  9. Market will go up and will go down but one thing is for sure that Allah has blessed u with tremendous knowledge.

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  10. Accumulation can made near 43800 for good profit

    ReplyDelete