KSE 100 Index Mid-term Trend Analysis on 18 Feb 2013
KSE-100 Index have become stuck in a narrowed range wedge, which means that breakage of either side will give a serious break throught to its trend. Our Prefrence: We Recommend to reduce portfolios in KSE (Karachi Stock Exchange) as it have reached in a serious over bought region, as Stochastics is above 80% and is trying to genrate a cross, The Completetion of that cross will definiately create bearish trend. Start of Bearish Trend have already supported by Weakly Closing of last week ending 15-Feb 2013 as KSE-100 closed outside of Bollinger Bands, Means if Previous High would not be ammended then market can start a crash behaviour for upcoming 3-5 weeks. Relative Strength Index have reached it peak as 14 Week RSI is above 80 and is indicatiing that market have reached an overbought region. Most important is that Market have got a resistant trend line which is becoming resistance to upward behaviour of market since October 2012. All these Indicators can push market back towards 16857, where market will get a support from same wedge's lower boundry. But at that level market will get a new dowside pressure from its all moving averages on daily and weekly basis. As Elections are comming sooner or later in pakistan so its time for market to start a liquidation process which also will generate a bearish sentiment. Most Important is that as there is no short selling available in KSE for common investors so we will recommend to trade on intraday basis and dont carry on any position overnight for upcomming 3-5 weeks.RESPONSIVE 12 CSS 3 HTML 1 JAVASCRIPT 28 DESIGN 6 DEVELOPMENT 3
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John Doe
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