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Karachi 100 (KSE)

Karachi
Currency in PKR
Disclaimer
67,166.38
+618.59(+0.93%)
Closed

Karachi 100 Discussions

The Weekly Session Wrap Up!!! Amid Wild Roller Coaster Ride Bulls Made An Aggressive Comeback – Index Recorded Biggest Weekly Gain Since Dec 2023..... A wild roller coaster ride was witnessed in the past week, where index first tested the suggested bearish target and then bulls reversed the trend in an aggressive manner. During the week, the bears first took the index to our suggested target zone of 59,170 as it witnessed a low of 59,191 from where the bulls took charge and pulled the index out of the aggressively bearish trend to test a high of 62,945 before closing the week at 62,815 with a massive gain of 2942 Points, which is the biggest weekly gain since December 2023. Volumes from Kse-100 Index Stocks clocked at a weekly total of 940.16 Million, which is 10% down from previous week and indicates that this aggressive rally was mainly triggered by panic short covering.
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The Session Wrap Up!!! Bulls Kept Index Above 10-DMA For Second Consecutive Session – Index Gained By 355 Points .... The bulls remained strong for the 4th consecutive session, as index witnessed highest closing in last 6 sessions. During the session, the witnessed a shaky start where it witnessed a low of 61,460, where 10-DMA resistance turned support kept it away from aggressive selling and helped the bulls to take on 61,952 before closing the day at 61,914 with a net gain of 355 Points. Volumes from KSE-100 Index Stocks clocked at a total of 171.7 Million, which is down by 18.4% from previous session and indicates that aggressive buyers preferred remaining sidelined for 2nd consecutive session.
@iMemon  AoA Memon sb, Waiting for your precious review/analysis for today 22-02-24.
Outlook & Expected Levels For The Coming Session (February 22, 2024)..... Session ending above 10-DMA (Days Moving Average), lying at 61,490, is a major setback for the bears and that is evident by previous session’s volumes, as nearly 20% of the day’s total was generated above 10-DMA, suggesting that buyers took aggressive positions. For the coming session, the recovery is likely to continue towards 61,890 – 61,930 range, while session closing above 62,400 is needed to pull the index out of aggressively bearish trend. Support for the day is seen at 61,27 while expected bottom is at 60,750.
The Session Wrap Up!!! Bulls Shrugged Off The Negative Indications – Index Soared By 1094 Points To End The Day At 5 Days High.... The bulls shrugged off the selling pressure, as despite Shooting Star on previous session they remained in control of the trend and added 1094 Points to the index kitty and closed the day at highest level in 5 sessions. During the session, the index did not just start the session with an upper gap, but without filling the gap they took the index above 61,500 to test the high at 61,620 before ending the session at 61,559 with a massive score of 1094 Points. Volumes from KSE-100 Index Stocks clocked at a total of 210.5 Million, which is down by 10.3% from previous session and indicates that the gain by massive 1000 Points was mainly triggered by panic short covering.
Sell the news event likely over next few days... Weaks hands will be dispelled in next few weeks for the sustained journey to 100k. Ideally the market should fall upto 42-45k range for sustained bounce
Outlook & Expected Levels For The Coming Session (February 21, 2024)...... The session closing as a Shooting Star with higher volumes is not just suggesting Pump N Dump action, but is acknowledging the previous session’s sharp recovery was mainly due to short covering. This further weakens the trend on longer term. While for coming session, the range between 60,100 & 59,900 is the expected support and incase of breach of 59,800 on hourly terms, the selling can be aggressive till 58,600 – 58,450 range. On the upside, the range between 60,760 – 60950 can restrict the recovery with expected top now tilting down to 61300.
The Session Wrap Up!!! Amid Another Roller Coaster Ride Bulls Had A Narrow Escape – Index Ended Flat With 4 Points Gain.... It was another roller coaster ride where index remained stuck within the suggested range and ended the session at a flat closing. During the session, the index started with an upper gap and reached to as high as 61237 and then faced aggressive selling to witness a low of 60420 before ending the session at 60,424 with a flat closing having just 4 points of gain. Volumes from KSE-100 Index Stocks clocked at a total of 234.89 Million, which is not just up a whopping 80% from previous session but is the highest total in last 5 sessions and since the session ended as a Shooting Star, this kind of total is indicating Pump N Dump action in aggressive manner.
next bull run is coming
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Outlook & Expected Levels For The Coming Session (February 20, 2024)..... The session closing as a Piercing Line formation, from the suggested support zone of 59,170, is suggesting exhaustion from bears that can keep recovery in-tact on short term.. However, the poor total in total is not supporting bulls, and indicates that sellers who covered their shorts at lower range can make another move on higher side once again. Hence, it is better to play the range. The resistance for coming session is lying at 60,760 with expected top at 61,150 – 61,450 zone. While, support is seen at the range between 60,060 – 59,950 with expected bottom at 59,640
The Session Wrap Up!!! After A Wild Roller Coaster Ride Bulls Recorded First Victory In 3 Sessions – Index Gained By 586 Points & Reclaimed 60K..... A wild roller coaster ride was witnessed in the last session where index tested the suggested support zone of 59,170 and then bounced sharply to reclaim 60K mark, as bulls recorded first win in 3 sessions. During the session, the index first fell to our suggested downside target zone of 59,170, as it witnessed the low of 59,190 before bouncing sharply to as high as 60,504 before closing the session at 60,459 with a net gain of 586 Points. Volumes from KSE-100 Index Stocks clocked at a total of 126.22 Million, which is not just down by 22.6% from previous session but is the lowest total since October 5, 2023 and indicates that the sharp recovery was mainly due to aggressive short covering.
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Outlook & Expected Levels For The Coming Week (February 19 To February 23, 2024).... The weekly closing below 60,800 is further strengthening the bears, who are likely to drag the index towards 59,170 initially, followed by 58,350 in the coming week. While, major support for the week is seen at 58,260, as 100-DMA (Days Moving Average) is lying at that zone, a support that is no breached since July 2023. However, breach of 58,260 can trigger another round of selling pressure with 57,100 as next exposed zone. On the upside, the recovery is likely to be limited at 60,590 – 61,100 zone.
The Weekly Session Wrap Up!!! Bloodthirsty Bears Retuned To The Field – Index 3rd Biggest Weekly Los Since The Year 2019..... The constant failure to surpass 64,700 triggered aggressive sell-off, as index witnessed the 3rd biggest weekly loss since the year 2019. During the week, the index started with a lower gap and without filling the gap, it fell to as low as 59,739 before closing the week at 59,872 with a massive loss of 3070 Points, the 3rd biggest weekly loss since the year 2019. Volumes from KSE-100 Index Stocks clocked at a weekly total of 951.52 Million, which despite being up by a whopping 84% from previous week and at the highest in last 3 weeks, is still not suggesting any accumulation at lows, as majority of the weekly volume, i.e. 432 Million or 45% of the week’s total was generated when market witnessed 2 sessions of gains and this indicates distribution to FOMO Victims.
Repeating nth time: jjtna Khan uper aaye ga , utna Pakistan neechey jaye gaa ! Proven correct every time.
will must go dow till the formation of a govt
Outlook & Expected Levels For The Coming Session (February 16, 2024)..... Session closing below 61,200 suggests further weakness in trend and the way volumes are dropping along-with fall, it suggests no accumulation. For the coming session, the index is likely to test the support at 60,750 – 60,550, during first half of the session, while hourly closing below 60,400 will be seen as a trigger to aggravate selling with 59,550 as next exposed level followed by 57,900. On the upside, 61,650 is seen as resistance followed by expected top at 62,100
The Session Wrap Up!!! Bloodthirsty Bears Retuned To The Field – Index Lost By A Massive 1100 Points Without Any Improvement In Volumes..... The suggested resistance played its vital role that did not just restrict the gains but unleashed bloodthirsty bears, as index witnessed aggressive selling with no improvement in volumes. During the session, the index started on a positive note and posted a high of 62,394 from where aggressive selling dragged it to as low as 60,926 before ending the day at 61,020 with a massive loss of 1133 Points. Volumes from KSE-100 Index Stocks clocked at a total of 154.59 Million, which is not just down by 13.8% from previous session but is the lowest total in last 4 sessions and indicates that aggressive buyers were scared of making any move.
Outlook & Expected Levels For The Coming Session (February 15, 2024)..... Session closing below 61,900 suggests exhaustion from bears, however, the poorly low total of volumes is not supporting the bulls, as it only indicates aggressive or panic short covering. Hence, it is better to remain thin on exposures until index makes a clear breakout or breakdown. For coming session, the resistance is seen at 62,460 followed by expected top at 62,600. While, the support is seen at 61,780, followed by 61,550. Noting that the level to watch closely is 61,200, as breach of this can once again aggravate selling pressure. While breakout above 63,200 can trigger aggressive buying.
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The Session Wrap Up!!! Bulls Kept Recovery In-Tact For Second Consecutive Session – Index Gained 926 Points And Reclaimed 62K Level..... The previous session’s Hammer with higher volumes kept index on the path to further recovery, as bulls ended the session with a massive gain of 926 Points and reclaimed 62K level. During the session, the index started with an upper gap and then without going into negative zone, it posted a high of 62432 before closing the session at 62153 with a massive gain of 926 Points. Volumes from KSE-100 Index Stocks clocked at a total of 179 Million, which is down by 29% from previous session and indicates that the recovery was mainly due to panic short covering.
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Outlook & Expected Levels For The Coming Session (February 13, 2024)...... Session closing below 61,700 further strengthens bears, who are likely to drag the index towards last session’s low zone of 60,600 once again. Having said that, it is equally important to note that bears seem to be in a Hyper Move as they took index to expected weekly bottom at 60,900 on the first day of the week, which has move intra-day oscillators in extremely oversold region and this suggests that any aggressive selling in the coming session can trigger an equally aggressive short covering based pull. Hence, sellers shall adopt risk management and look for profit taking against shorts. While, for buyers, it is important to track the movement at 60,700 – 60,550 range and see how hourly candles move, before making any decision. Support for coming session is seen at 60,550, followed by expected bottom at 59,750. While resistance is seen at 61,750 followed by expected top at 62,100.
The Session Wrap Up!!! Bloodbath Continued For Second Consecutive Session – Index Lost 1878 Points To End The Session At Lowest Since Dec 28....... The remained dominant for second consecutive session, as the bloodbath took index at the lowest level since December 28 2023 with no improvement in volumes. During the session, the index did not just start with a lower gap, but could not go above the previous session’s closing and fell sharply to as low as 60,647 before ending the session at 61,065 with yet another massive loss of 1878 Points. Volumes from KSE-100 Index Stocks clocked at a total of 200.89 Million, which is not just up by 32% from previous session, but is the highest total since January 30, 2023 and indicates some healthy change of hands during bloodbath and panic selling.
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