Karachi 100 (KSE)

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Outlook & Expected Levels For The Coming Week (June 03 To June 07, 2024)..... Back to back weekly closings with Long Lower Shadow formations are suggesting that consolidation is likely be seen for sometime, that can keep the index in a thin range. The expected resistance for the coning week is at the range between 76,335 – 76,660 while expected top is at 77,200. On the downside, the support is seen at 75,050 with expected bottom at 74,780.

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iMemon May 31, 2024 3:36PM ET

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The Weekly Session Wrap Up!!! Bulls Took A Breather After 3 Weeks Of Strong Gains – Index Witnessed A Pullback By 104 Points..... The previous week’s Hanging Man based closing played its vital role and restricted the bullish momentum, as index witnessed a corrective pullback by 104 Points. During the week, the index started on a negative note and witnessed a low of 74,585 from where the bulls made a come back and took the index to as high as 76,187 before closing the week at 75,878 with a net loss of 104 Points. Volumes from KSE-100 Index Stocks clocked at a total of 807.2 Million, which is not just down by 28% from previous week but is the lowest weekly total since 1st Week of April 2024 and indicates that choppy ride kept aggressive buyers aside.

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iMemon May 31, 2024 3:20PM ET

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Outlook for the Month of June 2024 and Expected Levels: First and foremost, the historical data for the month of June favors bears, as in the past 12 years, bulls have been victorious 4 times and bears have recorded 8 months in their name. While, from the charts view, the monthly closing above 74,800 has paved path for 77,200 followed by 77,800 as target range for the month, with expected top at 79,280 – 79,990. Noting that in case the index moves towards 79,280 – 79,990 by middle of the month, it can be considered as a Hyper Move that can trigger aggressive profit taking. On the downside, the support is now tilted up at 74,800, as this was the last strong breakout point. While expected bottom is at 73,800.

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iMemon May 31, 2024 2:45PM ET

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Review of the Month of May 2024..... Bullish Aggression Continued For 4th Consecutive Month – Index Soared By 4775 Points To End The Month At All Time High...... The bullish aggression continued for 4th consecutive month, as despite negative history of the month of May, the index soared by 4775 points to end the month at a new all time high. During the month of May, the index witnessed a minor corrective pullback to as low as 70,562 from where the bulls took the charge and moved to as high as 76,248 before ending the month at 75,878. Volumes from KSE-100 Index Stocks clocked at a monthly total of 4.965 Billion, which is not just up by 6% from previous month but is the highest total in last months and indicates that aggressive buyers took the full advantage of all time high levels.

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iMemon May 28, 2024 9:08AM ET

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Outlook and Expected Levels For The Coming Session (May 29, 2024)..... The session ending as a Hanging Man is suggesting breather from bulls, however, lower volume total is indicating that there is no aggressive selling pressure on top yet. For the coming session, the index is having support at 74,880 – 74,620 range, while expected bottom is at 74,300, which can act as threshold between correction and bearish reversal. Upside is now seen restricted at 75,780 – 75,900 with expected top at 76200

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iMemon May 28, 2024 9:05AM ET

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The Session Wrap Up!!! Bulls Took A Breather Amid Weekly Hanging Man Formation – Index Ended With A Corrective Pullback By 465 Points.... The week started with a corrective pullback, as previous weekly closing with Hanging Man kept bullish momentum in check that resulted in a net loss of 465 Points. During the session, the index started on a positive note and posted a high of 76,187 and then correction took it to 75,485 before closing at 75,517. Volumes from KSE-100 Index Stocks clocked at a total of 195.29 Million, which is not just down by 37% from previous session but is the third consecutive low total and indicates that aggressive buyers are not willing to take bigger moves.

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iMemon May 24, 2024 11:28AM ET

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Outlook and Expected Levels For The Coming Week (May 27 To May 31, 2024).... The weekly closing as a Hanging Man is suggesting breather from the bulls, however, there is no threat of any bearish reversal, as the volumes in Hanging Man formation are not higher. For the coming week, the range between 76,890 and 77,200 can act as strong resistance and trigger healthy profit taking. While, support is now tilted up at 75,580 followed by 74,980.

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iMemon May 24, 2024 11:24AM ET

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The Weekly Session Wrap Up!!! Bulls Scored A Hat-Trick | Index Gained 640 Points Amid Roller Coaster Ride..... The bulls remained in control for the 3rd consecutive week, as index did not just hold the suggested weekly support, but achieved the weekly target as well. During the past week, the index tested our suggested support zone of 74,900, as the low of the week was 74,726 from where the already strong bulls took charge and pushed the index to as high as 76,248, as our suggested target was 76,230, before ending the week at 75,983 with a net gain of 640 Points. Volumes from KSE-100 Index Stocks clocked at a weekly total of 1.132 Billion, which is not just down by 4% from previous week but is the 3rd consecutive low total and indicates that aggressive buyers are not coming to the field.

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iMemon May 23, 2024 12:57PM ET

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Outlook & Expected Levels For The Coming Session (May 24, 2024)..... The consolidation phase is likely to get over in coming 1-2 sessions, as constant support from 10-DMA zone of 74,670 with rise in volumes, from last session, are suggesting that buyers are coming back to the field. For the coming session, the index is likely to hit 75,370, followed by 74,580. While support is now getting tilted up at 74,990 followed 74,700.

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iMemon May 23, 2024 12:46PM ET

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The Session Wrap Up!!! Roller Coaster Ride Within Choppy Price Action Continued For 3rd Consecutive Session – Index Gained 157 Points..... The roller coaster ride within choppy price action continued for 3rd consecutive session, as index ended the session with a net gain of 157 Points. During the session, the index lower to witness a low of 74,726 and then it reached to as high as 75,284 before ending the day at 75,114 with a net gain of 157 Points. Volumes from KSE-100 Index Stocks clocked at a total of 336.88 Million, which is not just up by a whopping 83.6% from previous session but is the highest total since April 25 2025 and suggests that buyers made a comeback.

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