The index remained totally dull and dead throughout the week holding the 47000 +/- 300 as a support by the thread. Rumors blame the situation on developments in Afghanistan and a tussle between brokers and PSX management. To avoid any speculation, we have always traded by pure technical review only. Looking forward, the stance remains taking advantage of the dip but the situation overall isn't clear with a directionless market. We may expect better days ahead after passing the long weekend due to two days of Moharram Holidays. Wait and see approach may be the best remedy.
Weekly average capitalization is moving in a narrow range and there is no clear momentum. But overall it has sustained itself above the 8000+ billion/PKR benchmark and that is a necessary support for making a higher breakout..
Happy trading and do let us know your feedback in the comments section below.
Wish to see good days in mkt soon!
ReplyDeleteyour guidance in such uncertain time is very much appreciated.
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