PSX/KSE100 Research

KSE100 4H Chart August closed at 78488 with gains of 601 points, trading volume marked at 3375M down by 13.7% from last trading month. Index witnessed a low of 76943 and high of 79173 that is clearly signifies our limited upside view during AUG 2024. September remains indecisive to bullish as per last 10 years history in which 5 months negative and 5 months positive closing witnessed.  Corrective pattern on weekly time frame is still in process of formation that suggest a range bound week is likely to witnessed too between 76860 & 79340 in indecisive manners.  Good monthly support is seen around 75700/75500 that can act as bottom for September but if lost we have to watch 74200/74100 that is lifeline of index that has not breached since July 2023 that make it a very good buying base support. On the upside 79900/80300 can act as monthly resistance and have very less chance to sustained above. If sustained above 80300 we may have to watch 82300 as top of September. Individua...

KSE100 August Levels to Watch July closed at 77886 by losing 558 points with trading volume marked at 3911M upby 30.85%. Volume price action analysis suggest pump and dump kind of Sanrio witnessed with limited upside for August 2024. Index posted weakness on daily/weekly charts that also support our view that market needs a healthy correction. Good support is seen around 75700/75500 that can act as bottom for August but if lost we have to watch 74200/74100 that is lifeline of index that has not breached since July 2023 that make it a very good buying base support. On the upside 79900/80300 can act as Augst resistance and have very less chance to sustained above. If sustained above 80300 we may have to watch 82300 as top of August. Individual stocks analysis needed to be followed for better trading decision making that we published separately.

 KSE100 closed at 78029 by losing 2088 weekly points with volume marked at 687.41M down by 17.3M from previous week. Index traded between 80085 & 77921 in the band of 2166 points.  Index may remain under profit taking during start of the week towards 77260 followed by 76860 - 76250.  On the upside 78870 - 79550 can act as resistance while expected top of the week is seen around 79900. Please note 76250/76240 may act as 1st short term buy followed by 74645 as 2nd level to watch for buy. For low risk wait for dips around 2nd level and buy after confirmation. Individual stocks analysis needed to be focused. Avoid hefty buying at current levels and wait for good dips.

 KSE100 closed the week and day at 80177 by losing 173 weekly points and 1722 daily points. Friday session witnessed an aggressive fall. Commercial banks, fertilizers, power & technology sectors were under massive profit taking last day. Weekly closing support sideways movement between support 76600 and resistance 82570. We personally expect week/day could start with profit taking towards 79300 - 78440 that is where daily support is expected and pause in selling momentum can be expected if not fall towards 77760 - 77215 and even 76600 may become possible that is where bottom risk of the week is expected. Any initial upside towards 81015 followed by 82190 is likely to be limited if sustained above 82200 we may witness a rise towards 82570 that is where top of the week is expected (unlikely scenario). I would suggest following individual stocks analysis/research/signals for your decision making that we published separately.  KSE100 4H Chart