KSE100 Technical Outlook for Sep 2024

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.

Individual stocks analysis needed to be followed for better trading decision making that we published separately. 

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