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Karachi 100 (KSE)

Karachi
Currency in PKR
Disclaimer
72,040.13
-11.77(-0.02%)
Closed

Karachi 100 Discussions

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Outlook & Expected Levels For The Coming Session (December 19, 2023).... Session closing as a Bearish Engulfing with record high volumes is suggesting aggressive distribution. Moreover, it is for the first time since August 2023 that index has given a session closing below 10-DMA and that indicator is lying at 65,231. Last but not the least, the RSI, which was not able to post new high with the prices in last week, is now moving much lower which confirming that there is no clear sign of continuity in bullish aggression and is suggesting that end of 5th Wave. Now, the level to watch is 48,800 and this is seen as a threshold between correction and bearish reversal. Breach of this will be exposing it to 63,900 – 63,100 range 63,100 followed by 61,750. For the coming session, the resistance is now seen at 65,600, followed by 66,350. We reiterate with the view of managing risk with trailing stops.
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The Session Wrap Up!!! For The 7th Consecutive Session Bulls Faced Rejection From 66,600 – 67,200 Zone – Index Closed With A Loss Of 925 Points.... During the session, the index posted a high of 66,586, where once again the suggested resistance played its vital role and triggered aggressive selling that dragged the index to as low as 65,064 before closing the day just off the lows at 65,204 with a massive loss of 925 Points. Volumes from KSE-100 Index Stocks clocked at a total of 963.38 Million, which despite being  marginally down by 2% from previous session, is still at the highest level since 2005 and since the day ended as a Bearish Engulfing, it is signaling Pump N Dump action in an aggressive manner.
Outlook & Expected Levels For The Coming Session (December 15, 2023)..... Session closing as a Dragonfly Doji with lower volumes is suggesting healthy short covering at 64,400 handle. However, there is no clear sign of continuity in bullish aggression as not only index has been witnessing resistance at 66,600 zone but now the RSI is in much lower level, which is indicating that 5th Wave is in completion and now it can be a start of healthy correction. Now, the level to watch is 64K as 10-DMA is lying at that area and primarily this is considered as first protective shield for the bulls. However, breach of this can keep the correction in tact till 63,100 followed by 61,750. For the coming session, the resistance is now seen at 65,850, followed by 66,600. We reiterate with the view of managing risk with trailing stops.
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The Session Wrap Up!!! Bulls Made A Comeback After A Brutal Sell-Off – Index Gained 170 Points Amid Low Volumes.... After a brutal sell-off in past session, the index staged decent recovery with lower volumes. During the session, the index first fell to 64,437 and then bounced to as high as 65,622 before ending the session at 65,450 with a net gain of 140 Points. Volumes from KSE-100 Index Stocks clocked at a total of 407.56 Million, which is down by 40% from previous session and since the session ended as a Dragonfly Doji it is a clear sign of aggressive short covering at lower side, instead of any accumulation.
Outlook & Expected Levels For The Coming Session (December 14, 2023).... Once again the index faced rejection from suggested resistance zone of 66,600 – 67,270 and now closing with a Bearish Engulfing formation higher volumes is suggesting that the suggested range is likely to have made its top. Now, the level to watch is 64K as 10-DMA is lying at that area and primarily this is considered as first protective shield for the bulls. However, breach of this can keep the correction in tact till 63,100 followed by 61,750. For the coming session, the resistance is now seen at 66,050, followed by 66,600. We reiterate with the view of managing risk with trailing stops.
The Session Wrap Up!!! Healthy Correction Triggered – Index Witnessed 2nd Biggest Loss In The Year 2023.... The constant rejection from suggested resistance zone triggered healthy profit taking, as index witnessed healthy profit taking. During the session, the index reached to as high as 67,093 from where aggressive selling took place and index fell to as low as 64,427 before closing the day at 65,280 with a massive loss of 1,146 Points, the second biggest loss in the year 2023 so far. Volumes from KSE-100 Index Stocks clocked at a total of 677.14 Million, which is not just up by 45% from previous session but is the highest total in last three sessions and since the day ended with a Bearish Engulfing pattern, this kind of volume is suggesting aggressive distribution.
The Session Wrap Up!!! Healthy Correction Triggered – Index Witnessed 2nd Biggest Loss In The Year 2023.... The constant rejection from suggested resistance zone triggered healthy profit taking, as index witnessed healthy profit taking. During the session, the index reached to as high as 67,093 from where aggressive selling took place and index fell to as low as 64,427 before closing the day at 65,280 with a massive loss of 1,146 Points, the second biggest loss in the year 2023 so far. Volumes from KSE-100 Index Stocks clocked at a total of 677.14 Million, which is not just up by 45% from previous session but is the highest total in last three sessions and since the day ended with a Bearish Engulfing pattern, this kind of volume is suggesting aggressive distribution.
Outlook & Expected Levels For The Coming Session (December 13, 2023).... The closing with a Bullish Engulfing formation is negating the signs of breather and exhaustion. However, another pause in the rally at 66,600 handle and session witnessing low volumes is still indicating that the suggested resistance zone of 66,600 – 67,290 is not encouraging aggressive buyers, who may wait for a breakout before making their moves. Having said that, index has no major threat, as long as it is trading above 64,800. For the coming session, the resistance is still unchanged at 66,600 – 67,290 zone. Support for the session is seen at 65,200, followed by expected bottom at 64,800. We reiterate with the view of managing risk with trailing stops.
The Session Wrap Up!!! Bull Made A Refreshed Comeback – Index Gain By 414 Points.... After one day of breather, the bulls made a refreshed comeback as index closed yet another session in massive gains. During the session, the index did not just start the session with an upper gap, but remained above the previous session’s closing and reached to as high as 66,604 before ending the session at 66,426 with a net gain of 414 Points. Volumes from KSE-100 Index Stocks clocked at a total of 467.33 Million, which is down by 24% from previous session and once again indicates that the aggressive buyers preferred adopting “wait and see” approach as index is trading at major resistance area.
Outlook & Expected Levels For The Coming Session (December 12, 2023).... The closing as a Doji with low volumes,  after having rejection from the suggested resistance, is confirming the view of correction shared in weekly outlook. Having said that, index has no major threat, as long as it is trading above 64,800. For the coming session, the ranges are unchanged, as the index session ended at a flattish range. Support for the session is seen at 65,200, followed by expected bottom at 64,800. While, resistance is seen at 66,600 followed by expected top at 67,290. We reiterate with the view of managing risk with trailing stops.
The Session Wrap Up!!! Bulls Took A Breather At Suggested Resistance – Index Witnessed A Pullback By 211 Points.... The index bulls witnessed strong resistance at the suggested resistance zone of 66,600, as after a consecutive bull-run of 6 sessions the index closed first session in negative with low volumes. During the session, the index posted a high of 66,564 and then witnessed healthy correction to witness a low of 65,128 before bouncing back into 66K zone to close the day at 66,012 with a net loss of 211 Points. Volumes from KSE-100 Index Stocks clocked at a total of 613.3 Million, which is down by 25% from previous session and indicates that the intra-day correction by 1000 Points did not let aggressive buyers make their moves.
Outlook & Expected Levels For The Coming Week (December 11 To December 15, 2023).... For the coming, the mighty bulls have established a target range of 66,600 to 67,290. Noting that the said range has resistance based on two factors. 1, the 2.618% Fibonacci between June 2021 High of 48,980 and 2023 Low of 38,135 resides at 66,580 – 66,600 range and 2, the 4.618% Fibonacci between August 2023 High of 49,404 and September 2023 Low of 44,460 resides at 67,050 – 67,290 range. While, multi-year high volumes amid Daily RSI at 95 and Weekly RSI at 90 is suggesting aggressive distribution as well. Hence, we repeat that managing risk with trailing stops is better. Expected top for the week is seen at 68,300. The support for week is at 65,200 while breach of 64,900 can extend correction till 63,800.
The Weekly Session Wrap Up!!! Bulls Ended Yet Another Week With Record Breaking Gains And Multi Year High Volumes – Index Soared By 4,532 Points... The euphoria continued in past week, as index did not just closed the week with record breaking gains but witnessed multi-year high volumes as well. During the week, the index posted a high of 66,272 before ending the week just off the high at 66,223 with a massive points score of 4,532 Points, the highest weekly score ever. Volumes from KSE-100 Index Stocks clocked at a weekly total of 2.87 Billion, which is not just up by  whopping 94% from previous week, but is the highest weekly total since February 2006 and suggests that aggressive buying was carried out.
Outlook & Expected Levels For The Coming Session (December 08, 2023).... The session closing above 64,500 is now putting the suggested monthly top of 65,300 – 65,900 within striking distance. On the other hand, the volumes at nearly 13 Years High amid extremely overheated oscillators is suggesting that healthy distribution is being carried out. Moreover, the coming session is going to be the end of week session, which concludes that it can be yet another highly volatile session ahead. The resistance for coming session is seen at 65,100 – 65,900 range and that range can be treated as an opportunity to cash out gains. While support is seen at 63,950 and breach of 63,800 can aggravate selling till 63,100.
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Amid Intra-Day Volatility Bulls Gave Closing At Anther All Time High – Index Recorded A Gain Of 800 Points With Volumes.... The mighty bulls remained firmly in control of the trend, as after a high voltage trading session the index ended the session with a massive score of 800 points along-with record volumes. During the session, the index first posted a high of 64,958 from where a healthy intra-day profit taking based pullback dragged it to as low as 63,853 and then bulls regained the control and took it above 65K to close the day at 64,718 with yet another massive score of 800 Points. Volumes from KSE-100 Index Stocks clocked at a total of 765.34 Million, which is not just up by a whopping 49% from previous session but it is the highest intra-day volumes since February 6 2006, i.e. nearly at 13 Years High and such volumes amid extremely overheated conditions is a sign of healthy distribution
The Session Wrap Up!!!  Amid Intra-Day Volatility Bulls Gave Closing At Anther All Time High – Index Recorded A Gain Of 800 Points With Volumes.... The mighty bulls remained firmly in control of the trend, as after a high voltage trading session the index ended the session with a massive score of 800 points along-with record volumes. During the session, the index first posted a high of 64,958 from where a healthy intra-day profit taking based pullback dragged it to as low as 63,853 and then bulls regained the control and took it above 65K to close the day at 64,718 with yet another massive score of 800 Points. Volumes from KSE-100 Index Stocks clocked at a total of 765.34 Million, which is not just up by a whopping 49% from previous session but it is the highest intra-day volumes since February 6 2006, i.e. nearly at 13 Years High and such volumes amid extremely overheated conditions is a sign of healthy distribution to the victims of Fear Of Missing Out (FOMO.
The Session Wrap Up!!! Amid Intra-Day Volatility Bulls Gave Closing At Anther All Time High – Index Recorded A Gain Of 800 Points With Volumes.... The mighty bulls remained firmly in control of the trend, as after a high voltage trading session the index ended the session with a massive score of 800 points along-with record volumes. During the session, the index first posted a high of 64,958 from where a healthy intra-day profit taking based pullback dragged it to as low as 63,853 and then bulls regained the control and took it above 65K to close the day at 64,718 with yet another massive score of 800 Points. Volumes from KSE-100 Index Stocks clocked at a total of 765.34 Million, which is not just up by a whopping 49% from previous session but it is the highest intra-day volumes since February 6 2006, i.e. nearly at 13 Years High and such volumes amid extremely overheated conditions is a sign of healthy distribution to the victims of Fear Of Missing Out (FOMO.
The Session Wrap Up!!! Amid Intra-Day Volatility Bulls Gave Closing At Anther All Time High – Index Recorded A Gain Of 800 Points With Volumes... The mighty bulls remained firmly in control of the trend, as after a high voltage trading session the index ended the session with a massive score of 800 points along-with record volumes. During the session, the index first posted a high of 64,958 from where a healthy intra-day profit taking based pullback dragged it to as low as 63,853 and then bulls regained the control and took it above 65K to close the day at 64,718 with yet another massive score of 800 Points. Volumes from KSE-100 Index Stocks clocked at a total of 765.34 Million, which is not just up by a whopping 49% from previous session but it is the highest intra-day volumes since February 6 2006, i.e. nearly at 13 Years High and such volumes amid extremely overheated conditions is a sign of healthy distribution to the victims of Fear Of Missing Out (FOMO.
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Outlook & Expected Levels For The Coming Session (December 06, 2023).... The session closing above 62,800 breaks weekly resistance and now puts the next weekly target of 63,500 on cards. While increasing volumes without any sign of exhaustion on candlestick charts, is indicating that bulls are not scared of any intra-day jitters. For the coming session, the resistance is seen at the range of 63,500 – 63,850 while support is seen at the range of 62,630 – 62,050. Trailing stops can help in enjoying the rally.
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The Session Wrap Up!!! Non-Stop Rally Continued – Fearless Bulls Closed The Session With Anet Gain Of 462 Points.... As discussed in the last report, the session witnessed choppy price action where index after swinging between gains and losses, closed the day with yet another all time high. During the session, the index witnessed a low of 62,215 and then posted a high of 63,036 before ending the day at 62,956 with a net gain of 462 Points. Volumes from KSE-100 Index Stocks clocked at a total of 408.33 Million which is not just up by 10.6% from previous session but is the highest intra-day total since June 15, 2021 and suggests that despite intra-day jitters the fearless buyers remained aggressive on taking positions.
Outlook & Expected Levels For The Coming Session (December 05, 2023).... The session closing above 62,300 keeps aggressive bulls on the front-foot for more excitement. On the other hand, the index reaching to weekly target of 62,800 and then facing profit taking based pullback is suggesting that some breather or pause in aggressive point-scoring cannot be ruled out. This explains that index is likely to enter consolidation phase to adjust the overheated conditions, where range can be thin with some choppy trading sessions. Support is seen at 62,180, followed by 61,980. Resistance is seen at 62,690 followed by 62,900.
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