KSE-100 this week

Technical Forecast for 17th to 21st August, 2009
By Khalid Saifuddin
Sunday, Aug, 16th , 2009 8:00 pm
Market is either a daring adventure, or nothing.
Buying on Sharp dips will be a wise decision

Hi Folks:
If you remember my last week suggestion, I recommended my traders to do the profit taking though the market was heading up, I also pointed out Bears are still behind the bulls. The major concern for the investors this week was monetary policy and they were hesitant for adding more positions to their portfolio.The positive sign for the market is consecutive foreign buying, this week alone added 18,378,952 USD to the market and just in august the foreign investor portfolio rose by US $ 37,525,186. It is observed for last couple of weeks that foreign buying is increasing continuously. Recently it is also noticed that the global investors are rushing towards the emerging markets to get faster gains.Currently market entering into correctional phase, trading above 8030 will might help market to get back into positive zone. Market looking for new energy, which can be the corporate announcements, upcoming CFS product and proper interpretation of monetary policy.
Key Levels for this week (Please call for intraday Key levels)
R 2 8247
R 1 8099
S 1 7941
S 2 7865
S 3 7807
Market this Week
Market still stable I do not see any strong bearish trend, High Volatility expected because of monetary policy and this will end up with little correction; try adding positions on support levels.For precise KEY LEVELS and further analysis for any KSE scripPlease Call 0345-276 8680 or 021-432 2359We recommend the entry and stop loss for daily tradersMember Karachi Stock Exchange offering affordable online trading platform Now trade your stocks at your desk
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Disclaimer: This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting 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.