If there is to be a loser in Pakistani history written down in golden words, it has to be the KSE100 index right now. Not only it keeps failing to keep any trajectory but it has also perplexed many analysts into frustration. Some had a hint of this when the longer-term futures were launched but seriously it wasn't expected to run this long. PSX remains a bourse where long-term policymaking is absent and short-term fixes prevail to benefit the few. A downward slide is part of any bourse but to keep it frustratingly slow is an art mastered as PSX. Currently, the index is not holding any support or resistance, and it's worthless to make any speculation on it. Take benefit of the dip and briskly sell away at strength. At some point, the fortunes will take a turn for the better. Major support and resistance are marked below. 46500 +/- 200 is proving to be pivotal support but due to the instability of the market, it cannot be relied upon so early.
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Sunday, September 19, 2021
KSE100 Week 37-2021 : Bulls Get Slaughtered Again!
Average weekly capitalization has remained on a losing streak for three consecutive weeks but also the losses are shrinking which could be a sign of exhaustion. Only hope can save us!
MTB auction on 22-Sep may adversely affect the bourse.
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 th...
Bourse remained unstable throughout as per our expectations and weekly closing failed to break the pivotal resistance at 48200 +/ 100. There...