Morning Call for
My Grandpa used to say
“Camel scares you in both ways while sitting down or getting up”
By
Khalid Saifuddin
Market Outlook:
Once again
Heavy foreign buying in last couple of weeks failed to rescue the bulls, though still foreign stake is fair enough in the market, and we may see a come back in couple of days with new buying, as they are looking for target buying.
In fact market is getting pressure from all directions, the economic indicators, political side, and protest on various issues, MQM and PPP tussle, conflict between Judiciary and presidency and many more in pipeline. I also see escalating pressures from foreign countries.
Local investors decided to remain sideline and not convinced to participate enthusiastically, and this reflected in volumes, thanks to low price shares contributing most of the volumes in market.
Safely Invest alerted investors in last week report about the possible threat of downslide; our last exit call was on 10,508.
Future Outlook:
Currently market trend is severe bearish engulfing with breaking most of the strong trend lines. Market may see a little bounce in early hours on Wednesday but difficult to maintain the momentum – Now market is under immense selling pressure and it may continue. Though the weaker bounce is opportunity to exit, as from the beginning of week I was keep saying any upside trend will only be a corrective move
Buyer participation is expected with the institutional and foreign buying, and hope for bulls began over 10,403 only. Market preparing to test 10,050 levels, intraday traders recommended entering above 10,123 and placing stop loss below the same.
Most of our buy calls honored in depressive situation and the credit goes to our strategy “TRADING ON LEVELS”.
TRADING ON LEVELS is the only secure strategy in markets
Key Levels
10,449
10,350
10,296
10,254
10,123
10,069 - 10,046
9,965
For further assistance, precise key levels of any KSE Scrip you can contact our office @ 0213-432 2359 or 0345-276 8680 or write us @ safelyinvest@gmail.com
Disclaimer: This commentary, news or key levels are not a recommendation to buy or sell, but rather a guideline to interpret the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. We accept no liability whatsoever for any loss arising from any use of these levels. However the author DOES NOT GUARANTEES the accuracy of information provided on this report and is NOT RESPONSIBLE FOR ANY ERRORS AND/OR OMISSIONS.
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