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Karachi 100 (KSE)

Karachi
Currency in PKR
Disclaimer
70,944.20
+654.08(+0.93%)
Closed

Karachi 100 Discussions

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.
The Weekly Session Wrap Up!!! Bears Remained In Control Amid Roller Coaster Price Action – Index Ended The Week With A Net Loss Of 59 Points.... As discussed in the last weekly outlook, index witnessed choppy and indecisive price action where neither bulls could break the resistance of 64,400, nor the bears were able to keep the index below 61,700. During the week, the index posted a high of 64,196 and then witnessed a low of 61,781, before closing the week at 62,943 with a net loss of 59 Points. Volumes from KSE-100 Index Stocks clocked at a weekly total of 514 Million, which is not just down by 37% from previous week, but is the lowest weekly total since October 2023 and indicates that there was no buying support, instead the highs were taken as an opportunity to sell, as majority of volume was generated in 3rd and 4th session of the week when index was moving at higher levels.
Down 3%. Ideally KSE should hit 42k before the next sustainable bounce. Abhi tau Kahaani shuru hui hai
PTI wins w majority: crash. PTI leads: crash. PTI-lead coalition chances: crash. Extremely overbought technicals will find fundamentals for a sell-off.
Outlook & Expected Levels For The Coming Session (February 8, 2024)....... Session closing above 63,900 further strengthens bulls, who are likely to take on 64,885 – 64,990 range in the coming session and this the range that is seen as threshold between recovery and next strong bull-run. Since the coming session is going to be the end of week session, any aggression on the upside, especially within the range of 64,450 & 64,990 can trigger healthy profit taking. Hence, it is important to manage risk at current stage. On the flipside, the support is now formed at 63,780, while expected bottom is at 63,450.
The Session Wrap Up!!! Bulls Recorded Five Consecutive Sessions Of Gains – Biggest Winning Streak Since Mid December 2023..... The bulls remained unstoppable for fifth consecutive session, as they recorded biggest winning streak since December 2023. During the session, the index, after having yet another gapped opening, remained above the previous session’s closing and reached to as high as 64,196 before ending the day at 64,143 with a net gain of 344 Points. Volumes from KSE-100 Index Stocks clocked at a total of 194.74 Million, which is not just up by 16% from previous session but is the fifth consecutive rise and suggests that aggressive buyers remained active.
Silkbank chal ja tuha Allah pak ka wasta ha 5 rs par ak dafa chala ja plzzz
Bai ea ka ha
Outlook & Expected Levels For The Coming Session (February 7, 2024)..... Session closing above 63,750 and as a Three White Soldiers formation with higher volumes is favoring bullish continuation for coming session, with 63,950 – 64,080 as first upside target. While, stronghold above 64,200 is needed for further aggression towards 64,830 – 64,885, where top for the day as well as the “extended” top for the week is also expected. On the flipside, the support is now formed at 63,550, while expected bottom is at 63,190. The stance and strategy shall be to book profits at higher side, especially in the range between 64,200 & 64,885.
The Session Wrap Up!!! Bulls Remained Aggressive For 4th Consecutive Session – Index 796 Points With Highest Volumes In 4 Sessions..... The previous session’s Three Outsides Up formation kept bulls on the front-foot, who made no mistake an capitalized the opportunity, as index recorded a gain of 796 Points with higher volumes. During the session, the index witnessed an upper gapped opening and then without going into negative zone, it marched to as high as 63,885 before closing the day at 63,799 with a massive gain of 796 Points. Volumes from KSE-100 Index Stocks clocked at a total of 167 Million, which is not just up by 25.5% from previous session but is the highest total in last 4 sessions and indicates that aggressive buyers made a move, especially after an intra-day breakout above 63,300.
Outlook & Expected Levels For The Coming Week (February 6 To February 09, 2024)..... Weekly closing as Long Lower Shadow with lower volumes is suggesting that low in the past week triggered aggressive short covering only, but no aggressive buying, which indicates that it was Weaker Recovery on intra-week terms. While, closing of the week below Weekly 10-MA is a major setback for the bullish momentum, as since October 2023 it is the first week to close below Weekly 10-MA. This concludes that choppy and indecisive price action can be seen in the coming week, with lower volumes. Hence, Wait & See approach shall be adopted in the coming week. Expected support for the week is at 62,050 – 61,600 range, with expected bottom at 60,860. While resistance is seen at 63,750 with expected top at 64,200.
The Weekly Session Wrap Up!!! Bears Took Control And Scared Away Aggressive Buyers – Index Closed First Week Below Weekly 10-MA Since Oct 2023..... The week witnessed aggressive selling, as aggressive bears took control of the trend and broke Weekly 10-MA for the first time since October 2023. During the past week, the index did not just witness a lower gapped start, but could not fill that gap and feel to as low as 61,637 before closing the week at 63,002 with a net loss of 810 Points. Volumes from KSE-100 Index Stocks clocked at a weekly total of 821.57 Million, which is not just down by 33.57% from previous week, but is the lowest weekly total since October 2023 and indicates that bears scared away buyers, especially after breaking a strong support of Weekly 10-MA.
Silkbank kab chalain ge Allah Jee 🤕😭
Outlook & Expected Levels For The Coming Session (February 02, 2024)..... Session closing as a Long Lower Shadow with lower volumes is further supporting the view that bears are in a breather. However, there is no confirmation of any bullish reversal, as yet. Since the coming session is going to be the end of week session, high volatility cannot by ruled out, where sellers who have been covering their shorts can execute their orders at higher side once again. Resistance for coming session is seen at 62,650 – 62,800 range with expected top at 63,100. While, support is seen at the range of 61,800, with expected bottom at 61,500
The Session Wrap Up!!! Index Remained On The Path To Recovery For Second Consecutive Session – Day Ended With A Gain Of 414 Points.... The previous session’s Inverted Hammer with lower volumes proved to a breather from bears, as index remained on the path to recovery for second consecutive session. During the session, the index had a roller coaster ride, where it witnessed a low of 61,764 and then posted a high of 62,480 before ending the day at 62,393 with a net gain of 414 Points. Volumes from KSE-100 Index Stocks clocked at a total of 138.79 Million, which is down by 9.6% from previous session and is suggesting that the recovery was mainly due to short covering, instead of aggressive buying.
Outlook & Expected Levels For The Coming Session (February 01, 2024)..... Session closing as an Inverted Hammer with lower volumes is suggesting that bears have taken a breather. However, lower volumes are not favoring the bulls. For the coming session, a thin ranged trading is likely to be witnessed, with support at 61,500 – 61,350 and expected bottom at 60,950. While resistance is seen at 62,380 – 62,450 range with expected top at 62,650.
The Session Wrap Up!!! Bears Took A Breather After 4 Sessions Of Brutal Attack – Index Witnessed A Recovery By 137 Points.... After a brutal attack of 4 consecutive sessions, the bears took a breather, as the index witnessed a recovery by 137 Points. During the session, posted a high of 62,600 and then fell to as low as 61,896 before closing the day at 61,979 with a net recovery of 137 Points. Volumes from KSE-100 Index Stocks clocked at a total of 153.55 Million, which is down by 34% from previous session and suggests that the recovery was just due to aggressive short covering, not healthy buying.
Outlook for the Month of February 2024 & Expected Levels:...... First and foremost, the historical data for the month of February is favoring bears, as in the past 12 years, bulls have been victorious twice and bears have won ten times and those ten instances were in last ten consecutive years. While, the lower high formation with lower volumes, in January, is further confirming the aggressive distribution that was witnessed in December 2023 based on Shooting Star and Advanced Bearish Deliberation Block with highest monthly volumes in last 6 years. Moreover, breach of Weekly 10-MA at 63,550 and 50-DMA at 63,100 has now pushed the index in Neutral Zone in monthly timeframe. Support for the coming month is seen at the range 60,150 – 59,700 while major support for the month is seen at 58,350 – 57,770. Below which index will be entering bearish territory with 54,050 – 53,500 getting exposed. On the flipside, the resistance is seen at 63,500, while expected top is at 65,800.
Review of the Month of January 2024...... Bullish Momentum Stalled After Winning Streak Of 4 Months – Index Witnessed First Monthly Loss Since August 2023...... The previous month’s closing as Shooting Star and Advanced Bearish Deliberation Block, with higher volumes proved that it was aggressive distribution at higher zone, as the last month witnessed first loss since August 2023. During the month of January 2024, the index posted a high of 65,356 and then fell to as low as 61,637 before closing the month at 61,979 with a net loss of 471 Points. Volumes from KSE-100 Index Stocks clocked at a monthly total of 6.78 Billion, which is down by 40% from previous month and indicates that aggressive buyers were scared of making any move.
Outlook & Expected Levels For The Coming Session (January 31, 2024)..... Closing of the session below 62,600 has now pushed the index in aggressively bearish trend and in last session it tested the bearish target of 61,600, as mention in weekly outlook. For the coming session, the end of month based high volatility cannot be ruled out, and since the intra-day oscillators are in highly oversold region, the first two hours can keep both bears and bulls at the edge of their seats. Support for the session is seen at 61,050 – 60,950 range, while resistance comes at 62,450 – 62,650 range. Most importantly, the monthly closing below 62,500 will be seen as seen as a very negative closing which will keep index exposed to 58,600.
The Session Wrap Up!!! Aggressive Bearish Remained In Control – Bloodbath Took Out 932 Points From The Index .... The bloodbath continued for second consecutive session, as index witnessed another intra-day fall by 1000 points to close the session below 50-DMA for the first time since October 2023. During the session, the once again witnessed a lower gapped opening and without being able to move into positive territory, it fell to as low as 61,637 before closing the day at 61,841 with a massive loss of 932 Points. Volumes from KSE-100 Index Stocks clocked at a total of 233.75 Million, which is not just up by 44% from previous session but is the highest total in last session and indicates that the massive dip was taken as an opportunity to star accumulation, especially in the last 30 Minutes when index fell to 41,637 and volumes were at 47.8 Million, which is 20.44% of the day’s total.
Outlook & Expected Levels For The Coming Session (January 30, 2024)..... Closing of the session below 62,900 and as Three Black Crows formation is further strengthening bears who have established a target of 62,600 – 62,450 for the coming session and this is the range to watch, as a session closing below 62,450 will be pushing the index from Neutral zone to Bearish and expose the downside targets as mentioned in the weekly report. On the upside, the last strong support at 63,050 – 63,110 one is now seen as resistance, with expected top at 63,430.
The Session Wrap Up!!! Bears Scored A Hat-Trick And Dragged The Index At Lowest Closing In The Month Of January 2024..... The index witnessed bloodbath, as aggressive bears made a comeback on charts and dragged the index to lowest closing in the month of January 2024 so far. During the session, the index did not just start with a lower gap, but remained under pressure throughout the session and witnessed a bloodbath of more than 1000 Points where it fell to as low as 42,717 before ending the day at 42,773 with a massive loss of 1039 Points. Volumes from KSE-100 Index Stocks clocked at a total of 162.23 Million, which is down by 23.5% from previous session and indicates that there was no buying interest in the market, despite a fall by 1000 points.
62717 not 42717
KSE100 INDEX IN ABC CORRECTION.
Outlook & Expected Levels For The Coming Week (January 29 To February 02, 2024)..... Weekly closing as an Inverted Hammer negates the previous week’s Evening Star. However, the volumes from higher side are still suggesting that the higher prices were treated as an opportunity to sell. This concludes that choppy price action is likely to continue in the coming week and unless the week ends above 65,750, any higher side is likely to be considered as selling opportunity. Index will be pushed out of the Neutral zone and aggressive bears will be taking control, below 62,600, as this is the Weekly -10 MA zone and breach of this can drag the index to 62,150 – 61,600 range in a speedy manner, followed by 58,600. On the upside, the resistance is now seen at 64,050 – 64,260 zone and the expected top is at 64,970 – 65,100.
nice work sir
Analysis for Next week Memon sb?
The Weekly Session Wrap Up!!! Bulls Attempted A Comeback – Week Ended With A Gain Of 530 Points..... The bulls attempted a comeback in past week and negated the Evening Star based indications of aggressive sell-off, as index witnessed a healthy recovery by 530 Points. During the past week, the index witnessed a low of 63,130 and then bounced to as high as 65,213 from where another round of selling pushed it below 64K to end the week at 63,813 with a net gain of 530 Points. Volumes from KSE-100 Index Stocks clocked at a total of 1.24 Billion which despite being up by 12% from previous week is suggesting that it was distribution from higher levels, as 568 Million or as much as 45% of the week’s total volume was generated when index was trading between 64,600 & 65,200 range.
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