KSE 100 Intraday Analysis 14 March 2013
KSE 100 Down side Pervails
Our Prefrence: short positions below 17975 with target 17604 and 17345 and extentions toward 17281
Alternative Scenario: Upside pentration of 17975 will call for 18054 and 18278
NOTE: Bench Mark Index at Karachi Stock Exchange is technically under pressure and have formed a downward channel towards 17281. Inprevious three trading sessions it have moved very technically as after moving till 17491 it took a 50% correction towards 17912 but could not become able to pentrate its 50% correction level which is an alarming situation for Index, Untill KSE 100 become able to close above 17975 it will be able to move in further bullish trend as moving averages and stochastic are pressing Bench Mark Index towars lower bounderies of channel mentioned in the chart.
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