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Karachi 100 (KSE)

Karachi
Currency in PKR
Disclaimer
71,386.43
-47.03(-0.07%)
Closed

Karachi 100 Discussions

The Session Wrap Up!!! Bulls Recorded 7th Consecutive Win – Index Closed At Highest Point Since August 21 2023.... The bulls continued their march on the charts for 7th consecutive session, as index recorded a gain of 418 Points to close the session at highest level since August 21 2023. During the session, the index witnessed a low of 47,708 and then marched to as high as 48,166 before ending the day at 48,140 with a massive gain of 418 Points. Volumes from KSE-100 Index Stocks clocked at a total of 169.36 Million, which is up by 46% from previous session and once again is a clear sign of aggressive distribution at higher level. Noting that 57 Million  or as much as 34% of the day’s total was generated during last 90 minutes of the session which suggests aggressive distribution as index was at session highs during that time.
Outlook & Expected Levels For The Coming Session (October 10 , 2023).... Despite session closing above 47,700, the index has entered a region where not only the intra-day oscillators are in extremely overheated conditions, but the Fibonacci Numbers and Monthly Resistances are likely to come in play as well, due to which we still believe that it is time to book gains in order to maintain good cash flows that will help in availing other opportunities. The selling range will be 47,740 to 47,970 range, while initial downside can be targeted at 47,415 to 47,050.
The Session Wrap Up!!! Aggressive Bulls Rejected Intra-Day Volatility – Index Closed With A Gain Of 228 Points| Volumes At Highs Suggest Selling..... The session witnessed a roller coaster ride, as index witnessed big swings between losses and gains, before ending 6th consecutive session in gains. During the session, the index witnessed a low of 47,217 and then posted a high of 47,775 before ending the session at 47,721 with a net gain of 228 Points, which is the 6th consecutive win for the bulls. Volumes from KSE-100 Index Stocks clocked at a total of 116.34 Million, which is marginally down from previous total of 116.56 Million and suggests that it was once again a session of distribution at higher levels, as there were two instances in the session where index based stocks witnessed highest volumes, and at both occasions the index was above 47,750 range, while the total of those instances was 37.7 Million or as much as 68% of the day’s total.
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Outlook & Expected Levels For The Coming Week (October 09 To October 13 , 2023).... The weekly closing above 47K is favoring bullish continuation. Having said that, it is equally important to note that now index has come to a point where rally can fade which cannot just trigger aggressive profit taking but fresh selling pressure as well. This is because 61.8% on Fibonacci Calculation, from the high of 49,404 and the low of 44,459 is lying at 47,550 – 47,760 range, with second resistance on monthly terms at 47,666. Lastly, the big bearish candle in the week from Aug 28 to Sep 1 had a top at 47,733 and that candle is still seen as a threat to sustainable bull-run. Hence, to conclude, Sell On Strength is the call for coming week 46,885 as first target, followed by 46,660.
The Weekly Session Wrap Up!!! Aggressive Bulls Ruled The Charts Throughout The Week – Index Closed The Week With Biggest Gain In 9 Weeks.... Despite closing the previous week with a Dark Cloud Cover, the bulls did not give up the momentum and kept on marching onto the charts, as index closed the week with biggest gain in 9 weeks. During the week , the index witnessed a low of 46,294 and then bounced to as high as 47,619 before ending the week at 47,493 with a massive weekly gain of 1,260 Points, the biggest weekly gain in 9 weeks. Volumes from KSE-100 Index Stocks clocked at a weekly total of 594 Million, which is the highest weekly total in last 8 weeks and indicates that it was aggressive distribution to greedy money.
Outlook & Expected Levels For The Coming Session(October 06, 2023)... The bullish momentum is strengthening as not just index is holding above 47K, but volumes are rising as well. Having said that , the most important point to note is that sudden rise in volumes, during rally, is a clear indication of aggressive distribution, as if is was the case of accumulation the volumes had been on the rise with index was at lows. Moreover, the index intra-day oscillators are now in a such overbought region that points to a bubble formation, while index is now reaching 61.8% Ratio at 47,515, which can trigger equally aggressive selling. Lastly, monthly resistance level 2 is at 47,667 and since it is just first week of the month, such momentum without any heathy correction is not good for a sustainable rally. Hence, we still favor sell the strength.. Support for the day is seen at the range between 46,770, followed by 46,410.
The Session Wrap Up!!! Aggressive Bulls Recorded The Biggest Winning Streak Since August 2023| Index Soared By 372 Points.... The aggressive bulls remained in control for the fourth consecutive session, making it the biggest winning streak since August 2023, as index soared by 372 Points to end the session at highest since August 28 2023. During the session, the index started with an upper gap at 47,152 and then marched as to as high as 47,484 before closing the day at 47,452 with yet another massive gain of 372 Points, which now makes it a weekly total of 1,219 Points so far, the highest weekly total since July 2023. Volumes from KSE-100 Index Stocks clocked at a total 182 Million, which is up by a massive 82% from previous session and indicates aggressive buying.
Outlook & Expected Levels For The Coming Session(October 05, 2023).... The session closing above 47K further strengthens the bulls for more gains towards 47,260 – 47,400 in the coming session. Having said that, the rising wedge formation with short term oscillators in extremely overbought zone is suggesting that the one month corrective consolidation from the low of 44,300 is now likely to end. And since index is now reaching to the suggested top of 47,350 – 47,600, any spike is now likely to trigger aggressive shorts from 47,260 to 47,600 range. Hence, we still favor sell the strength, especially in the stocks like OGDC, PPL, ATRL, NRL, PRL, SNGP, NETSOL, SYS, AVN, MLCF, PIOC, SAZEW & PSO. Support for the day is seen at the range between 46,650, followed by 46,410.
The Session Wrap Up!!! Bulls Scored A Hat-Trick | Index Closed The Session Above 47K For The First Time Since August 28 2023 The bulls remained in control for third consecutive session, as index surpassed 47K handle for the first time since August 28 2023 and closed the day with a massive gain of 351 Points. During the session, the index started the session with negligible loss of just 8 points to post a low of 46,748 and from there the bulls took the control by posting a high of 47,199 before closing the session at 47,079 with a massive gain of 351 Points, which makes a total of 875 Points for the week so far. Volumes from KSE-100 Index Stocks clocked at a total of 100.27 Million, which is up by 5% from previous session and this time is not suggesting any aggressive buying, instead is showing aggressive distribution from top, as nearly 38 Million, or as much as 38% of the day’s total volume was generated when index was at the range between 47,130 & 47,199.
The resistance for coming session is seen at the range between 46,830 & 46,920 while initial downside target is 46,550, followed by 46,320 – 46,250 zone.
Outlook & Expected Levels For The Coming Session(October 04, 2023).... Session closing above 46,600 is keeping the bulls on front-foot. However, the concern is that index faced resistance at 50-DMA region of 46,850 and ended the session with a Spinning Top Formation, which can work as a Bearish Star too and if that happens, it will acknowledge the Hyper Move formation from bulls. Hence, we reiterate that Sell On Strength shall be the overall strategy, with focus on stocks like OGDC, PPL SNGP, ATRL, NRL, NETSOL, SYS, MLCF, PIOC. While selective buying can be done in stocks like PAEL, WAVES, NML, HUMNL, ISL, ASTL, INIL, GATM. rate Trading Strategy Report.
The Session Wrap Up!!! Bulls Remained In Control For Second Consecutive Session – Index Recorded A Gain Of 129 Points... In a follow-through to previous session, the bulls remained in control for second consecutive session, as index recorded a gain of 129 Points. During the session, the index, after witnessing yet another gapped opening, posted a high of 46,820, before closing the session at 46,756 with a net gain of 129 Points. Volumes from KSE-100 Index Stocks clocked at a total of 95.5 Million, which is down by 5.3% from previous session and suggests that aggressive buyers took a pause at critical resistance area.
Outlook & Expected Levels For The Coming Session(October 03, 2023).... Session closing above 46,600 negates the previous session’s Bearish Engulfing and gives upper hand to the bulls for move excitement ahead. Having said that, it is equally important to note that by reaching 46,700 zone, the bulls have triggered a Hyper Move, which means that bulls have made a hasty move on weekly charts and whenever there is a Hyper Move, either by the Bulls or the Bears, it usually ends up the week in disappointment. Hence, we suggest Selling On Strength, between 46,750 & 46,900 range, with 46,345 as first target, followed by 46,050.
The Session Wrap Up!!! Bulls Made An Aggressive Comeback – Index Soared By 394 Points To End The Session At Highest Since August 29 2023... The bulls turned the tables with an aggressive comeback, as not only the index recorded highest closing since August 29 2023, but volumes clocked at 10 days high as well. During the session, the index started with an upper gap and reached to as high as 46,704, and then closed the session at 46,627 with a massive gain of 394 Points. Volumes from KSE-100 Index Stocks clocked at a total of 100.35 Million, which is the highest total in last 10 sessions and indicates aggressive buying.
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Outlook & Expected Levels For The Coming Week (October 02 To October 06 , 2023).... The weekly closing as a look alike of a Dark Cloud Cover with higher volumes is suggesting distribution at higher levels. While the symmetrical triangle, which kept index stuck in range bound activity for past three weeks, is now coming to an end and since index is at the bottom of that triangle with a negative crossover between 10 & 50 DMA, the bears are likely to remain in control. Hence, the strategy shall be to Sell On Strength at the range between 46,530 & 46,750 with initial target of 46,060, followed by 45,850.
The Weekly Session Wrap Up!!! The Symmetrical Triangle Kept Index In A Range Bound Activity – Bears Won The Battle With 188 Points.... Exactly as discussed in the last weekly report, the index was seen stuck in a thin and untradeable range withing symmetrical triangle, as bears won the weekly battle with 188 points. During the week, the index remained within the suggested range of 46,050 & 46,730, as index posted a high of 46,590 and then witnessed a low of 46,177, before closing the week at 46,232. Volumes from KSE-100 Index Stocks clocked at a weekly total of 357 Million, which is up by 15% from previous week and since the index ended with week with a look alike of a Dark Cloud Cover, the higher total of volumes is suggesting distribution at higher levels.
Outlook for the Month of October 2023 & Expected Levels.... First and foremost, the historic pattern for the month of October is favoring bulls, as in the past 12 years, bulls have recorded 9 months in their books, while bears have won just 3 times. While, on the charts, the Harami Bullish formation is suggesting breather from bears. However, there is no aggressive bullish indication as the volumes are not supporting the upside move. Moreover, there is negative crossover between 50-DMA & 10-DMA which does not favor bulls. Lastly, the Symmetrical Triangle formation is coming to as end with index trading at its lower side, which suggests that selling pressure can be witnessed in the coming month. For the coming month, the index has resistance at 46,960 – 46,990 range, with expected top at 47,350 – 47,660 range. the stance for coming month shall be Sell On Strength, with 45,450 – 45,150 range as first target, followed by 44,100 where bottom for the month  is expected.
Review of the Month of September 2023..... Bears Took A Breather – Index Witnessed A Gain By 1,230 Points – Poor Volumes Suggest No Interest By Aggressive Buyers..... The month of September kept index from falling into aggressive bearish zone, as bulls regained the control by scoring a monthly gain of 1,230 Points. During the month of September, the index remained in the suggested range of 46,900 & 44,470 ad it witnessed a low of 44,795 and posted a high of 46,590 before ending the month at 46,232. Volumes form KSE-100 Index Stocks clocked at a total of 1.52 Billion, which is down by 58% from previous month and since the monthly closing came as a Harami Bullish formation, such poor total indicates short covering only.
Outlook & Expected Levels For The Coming Session (September 28 , 2023).... The symmetrical triangle is likely to end by September 28 or October 2, and this end cannot just give direction for further move, but is likely to trigger volumes as well. Till then, the range bound activity is likely to keep index in a choppy price action.  For the coming session, the upside is seen limited till 46,430 – 46,510 range, while downside is likely to be restricted at the range of 46,280 – 46,175.
The Session Wrap Up!!! Choppy Price Action Within Symmetrical Triangle Continued – Bulls Closed The Session With A Gain Of 87 Points.... There was no change in trend, as index remained stuck in a range bound activity within the suggested symmetrical triangle, as neither the bulls nor the bears could make an aggressive move and index closed the session with a net gain of 87 points. During the session, the index witnessed a low of 46,238 and then bounced to as high as 46,448 before ending the session ar 46,365. Volumes from KSE-100 Index Stocks clocked at a total of 91.9 Million, which is down by 4% from previous session and indicates that the symmetrical triangle is not letting anyone make aggressive move.
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