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Sunday, June 20, 2021
KSE 100 Week 24-2021 : Post Budget Fizzle Out!
Not much enthusiastic reaction to post-budget fervor. A boundary rejection from 49000 +/ - 300 means that 48200 +/- 100 shall act as pivotal support to keep bulls in momentum (previous resistance now acting as support). The stance from last week is reiterated with a special focus on small to mid-caps. For important support and resistance levels, refer to the chart below.
On the fundamental front, induction of new DFC contracts with 60 and 90 days expiry will have an impact on volatility. Currently, we assess the situation as stabilization in the short term but increased volatility in the long term - a benefit to those who play their cards right. Refer to the official PSX document for detailed information.
Technically speaking, 42800 +/- 300 is proving to be a firmly held bottom but overall bears refuse to surface. The major trend remains side ...
The week started off with the COVID-19 Omicron variant washing global markets into deep red, causing the index to briefly hit its second ma...