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.
Commentary on Pakistani Stock and global commodities. Views expressed are own and does not constitute investment advice. Past performance is not indicative of future performance. Use information presented here at your own risk. No liability or responsibility accepted. For any direct queries email to ksepsx@gmail.com
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Sunday, September 19, 2021
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Technically speaking, 42800 +/- 300 is proving to be a firmly held bottom but overall bears refuse to surface. The major trend remains side ...
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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...
The blog perfectly explains the current market scenario
ReplyDeleteGreat analysis
ReplyDeleteMaster everything you said, looks true as we see no reversal
ReplyDelete