KSE-100 Feared Bulls bringing Bears back in the ring

KSE-100 Feared Bulls bringing Bears back in the ring

High Volatility expected with low volume in early hours


By:
Khalid Saifuddin
Monday, 23rd, Nov, 2009

Once again market getting out of its upward channel, yesterday market exactly closed around the critical level, and it was also observed the market tested the third given support.
All these are happening because of the present uncertainty due to NRO and the coming monetary policy, though we are not looking into any trouble making monetary policy. But investors shy to hold the positions.
Foreign investors still buying positions, just today their net buying was 865,507 USD and Mutual Funds were in buying too, they scored net buying of 889,836 USD, the shrinkage of volume added depression to the investors, though they were having an opportunity of buying their positions on cheaper price.
Now from here technically market getting into the bearish phase, the only hope for the market is to trade in positive zone today and closing above 9,247 will bring some hopes for Bulls.

Key Levels

9,425
9,368
9,320
9,286
9,247
9,216
9,176
9,144
9,119
9,086
9,037
8,990

Recommendations
Trade on key levels with the strict stop losses, market has more chances of going down from here, focus on your target buy.


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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.