Technical Forecast for KSE-100
For the 2nd Week of Oct, 2009
By
Khalid Saifuddin
Hi Folks:
I was convinced that the volatility and intraday correction will make market stabilize and it did. Though market still in fragile zone but we got some positive development, the ongoing debate on Kerry-Lugar will be gone very soon like the NRO and Musharaf trail. The incoming Leverage product will give more strength to the market, and we all noticed the pouring dollars are already getting high.
I am very much optimistic about the market now, though it will take little correction but eventually the market will hit the goal. Trading above 9865 will energize the market and trading or closing below 9505 may bring pressure to the market. Now it makes sense to focus on long term holdings but investor must be very specific and choose the right time for buy.
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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.
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