Long Eid holidays, academic assignments, and health issues together make a recipe for keeping one extraordinary busy. But once again, here we are with the latest outlook on the bourse for next week. There is no need to re-write the obvious and we cut the red tape and land directly on the topic. Catch up from our several past updates, the rally is on perfectly in the mid of May-June 2021 - well played!
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Monday, May 24, 2021
Week 20-2021: An Update After a Long Time
Looking at the market capitalization, recovery is evident during the post-holidays trading week, the linear trend line is well above the horizontal resistance at 8000 Bn/PKR and we expect a stiff resistance once again around 8300+ Bn/PKR - a level where the index has always struggle to cross.
Money market events that may impact the equities bourse are OMO maturity on 28th-May, there is no PIB and MTB auction.
Looking forward we expect the healthy trend to continue and the strategy shall be buying low and selling high. It doesn't get more simple than that! If you enjoyed reading his update, do let us know in the comments section below.
at May 24, 2021
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