Karachi Stock Exchange for 21st October, 09

Dhian for Wednesday 21st October, 2009

Declining Global interest recorded will add more pressure

Net Selling on Yesterday USD 6,438,649

KSE-100 Today:

Well the correction call is turning into bearish trend, the major reason for this change will be the terror alert for the country, now we are on war. Immense fear of terror noticed in common man.
Yesterday market accurately tested our levels, the low and high of the market was proved the accuracy of our support and resistance. Unfortunately market failed to close above the 9600 which was the hope of getting back into correctional phase. Last hour pressure was due to the explosion in university.
Now it is getting difficult for the investors to gain confidence.
I recommend traders to stay out of intraday trade and focus on buying specific scrip on market support.
If market bounces back from 9500 will give sigh or relief to investors.
I want intraday traders do not take positions in pre-open, wait for market to get stabilize and then plan their buys in specific scrip on support
Before buying or selling any scrip, please gauge the pressure in 100 index.

Key Levels for KSE-100

Wednesday

R 3 9,739
R 2 9,678
R 1 9,644
P.Cls 9,569
S 1 9,510
S 2 9,369
S 3 9,278

For more updates, news and views on Karachi Stock Exchange
Please Call @ 021-3432 2359
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Thanks
Khalid Saifuddin


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.