Karachi 100 (KSE)

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Outlook & Expected Levels For The Coming Week (June 11, 2024).... The failure to surpass 74,300 is suggesting that the Dragonfly Doji based closing on June 7 resulted in a dead cat bounce. Having said that, the short term oscillators are now moving into highly oversold zone that may limit the downside as well. This concludes that index is likely to enter consolidation, within a rangebound price action, with both bears and bulls having level playing filed to make their. The said consolidation is likely to continue for 2-3 sessions. Hence, play the range. The support is seen at 72,800 followed by expected bottom at 72,350. Resistance is seen at 74,100 followed by expected top at 74,660.

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iMemon 16 hours ago

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The Session Wrap Up!!! Bears Scored Double Hat-Trick | Index Witnessed Longest Bearish Spell Since December 2023.... The bears continued their move for the 6th consecutive session, as index witnessed another day or selling pressure to close the day at the lowest level since May 13 2024. During the session, the index started on a positive note with a high of 73,915, but the upside resulted in a dead cat bounce that triggered aggressive pressure to drag the index to as low as 72,981 before ending the session at 73,252 with a net loss of 501 Points and with the sixth consecutive session of loss, making it the longest bearish spell since December 2023. Volumes from KSE-100 Index Stocks clocked at a total of 89.5 Million, which is the lowest total since April 02 2024 and indicates that buyers were scared of making any move.

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Javed Khan Jun 10, 2024 3:27AM ET

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sab frad hai

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iMemon Jun 09, 2024 10:14AM ET

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Outlook & Expected Levels For The Coming Week (June 10 To June 14, 2024)..... The weekly closing as a Look Alike of an Evening Star is suggesting favoring bears. Having said that, the activity in last session of the previous week, where index fell by 2000 Points and witnessed 100% towards the end with highest volumes in 5 days is suggesting that the pullback is done at 50 Days Moving Average (50-DMA) level. Now, to turn the recovery into a bullish reversal, the level that needs to be surpassed, on weekly closing terms, is 76,100. While on intra-week terms, the resistance is seen at 74,350 followed by 75,500. Support is seen at 73,280 – 72,800 while expected bottom is now seen at 70,950.

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iMemon Jun 09, 2024 10:05AM ET

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The Weekly Session Wrap Up!!! Bears Triggered Bloodbath – Index Lost 2124 Points To Close At Lowest Level In 4 Weeks.... The aggressive bears made a comeback, as constant failure to have a stronghold above 76,200 triggered selling based bloodbath of more than 2000 Points and resulted in the lowest closing in last 4 weeks. During the week index posted a high of 76,209 from where it fell sharply to as lows as 71,781 before closing the week at 73,754 with a net loss of 2124 Points. Volumes from KSE-100 Index Stocks clocked at a weekly total of 830 Million, which despite being marginally up by 3% from previous week, indicates healthy short covering as well buying interest, as the last session of the week witnessed more than 205 Million of volume with a Dragonfly Doji candle, suggesting that the bloodbath was treated as a buying opportunity.

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iMemon Jun 07, 2024 1:00AM ET

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KSE100 Update.... Either 71900 or 70800 Is next Expected Support ... 70800 Is,Major one..... If Either of the 2 held, Target can be 77200 to 77600

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iMemon Jun 07, 2024 1:00AM ET

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Index Bounced From Suggested Zone..... All Praise To Almighty Allah....

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iMemon Jun 06, 2024 10:42AM ET

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Outlook & Expected Levels For The Coming Session (June 07, 2024)..... The week is coming to end and index is testing critical support zone, which was mentioned as Expected Bottom” in the monthly outlook. This support zone of 73,800 – 73,600 has potential to trigger aggressive short covering based pull. Moreover, on intra-day terms the RSI on Hourly Timeframe is now making a positive divergence and index is having a Falling Wedge formation that is likely to limit the downside now. Hence, we suggest taking buying attempt with limited exposure in the above suggested zone. Resistance of the day is seen at 74,230 followed by 74,600.

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iMemon Jun 06, 2024 10:35AM ET

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The Session Wrap Up!!! Bears Recorded Biggest Winning Streak Since January 30 2024 – Index Witnessed 4th Consecutive Session Of Loss..... The previous session’s Three Black Crows pattern kept aggressive bears in control, as index witnessed 4th consecutive session of losses, making it the biggest winning streak for the bears since January 30 2024. During the session, the index was under pressure since start of the session and despite making an intra-day recovery towards 74,593, it came under selling pressure to witness a low of 73,768 before ending the day at 73,862 with a net loss of 356 Points, making it a total of 2015 Points for the current week. Volumes from KSE-100 Index Stocks clocked at a total of 112.75 Million which is not just down by 18.8% from previous session but is the lowest intra-day total since Mid March 2024 and indicates that the corrective pullback has scared away aggressive buyers.

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iMemon Jun 05, 2024 10:38AM ET

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Outlook & Expected Levels For The Coming Session (June 06, 2024)..... Session ending as Three Black Crows formation is further strengthening the bears with deeper correction towards 74,050 – 73,800 range. Noting that, as discussed in previous report, bears seem to have triggered a Hyper Move and in case the index tests 73,800 range, that one can trigger equally aggressive short covering. Hence, for the coming session, some buying at lows cannot be ruled out. Resistance for the day is seen at 74,630 with expected top at 74,800 – 75,050 range.

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iMemon Jun 05, 2024 10:35AM ET

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The Session Wrap Up!!! Bears Scored A Hat-Trick | Index Lost 447 Points To End The Session At Lowest Since Mid May 2024..... The previous session’s Three Insides Down base closing kept pressure in tact, as index witnessed third consecutive session of loss to close the day at lowest level since Mid-May 2024. During the session, the index started on a positive note and posted a high of 74,758 from where bears took control and dragged the index to as low as 74,136 before closing the day at 74,219 with a net loss of 447 Points and at the lowest closing since Mid-May 2024. Volumes from KSE-100 Index Stocks clocked at a total of 138.89 Million which is now just down by 22.4% from previous session but is the lowest total since March 17 2024 and indicates that buyers did not take any chances.

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