The bourse has rallied but is demonstrating stubborn pivotal resistance at 48200 +/- 100 - we do not see this as a good omen. It could be the need for bulls to take a resting spot. Looking forward, the strategy shall be to take advantage of the dips and protect your profits! The week ahead may be an interesting one.
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Sunday, June 6, 2021
KSE100 Week 22-2021: Caution - Speed Breaker Ahead!
Market capitalization has once again crossed the benchmark and approaching its dangerous territory at 8300 Bn/PKR - an exhaustion point that has always been the death spot for bulls. Will there be a breakout this time? what are the bulls gonna do? how will the market react? Are the bulls cornered once again? Suspense?? - bring it on!
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...