AKD TriggerShark Jan 21, 2014 Bullish Progression - TopicsExpress



          

AKD TriggerShark Jan 21, 2014 Bullish Progression Intact Short‐Term: Immediate residency above 26,620 level keeps possibility for continuation of bullish momentum towards 27,187 — 27,263 levels, placed just below the upper channel line (27,290). Thrust of minute impulse can support a maximum rise up to 27,754 level (valid for this week only). Trade with trailing risk below 26,620 level. General Outlook: Daily trend following indicators remain in a bullish mode above 26,270 level. According to our count, benchmark KSE is striding in the third extended minor degree wave (marked as iii) of an impulse initiated from Oct’13 low of 21,476 level, where it has already surpassed the normal target. Next level to focus is the upper line of channel drawn off from Jan’13 low, placed at 27,290 level today. Once benchmark KSE would hit / surpass the aforementioned line, then we can expect minor correction / consolidation before it looks set to complete the 161.8% projection target for the third cycle degree wave at 29,039 level. Preferred plays include ENGRO, PSO, AICL, PTC, NETSOL, SNGP, PAEL, NRL, EPCL, AKBL, FABL and BOP. 13-day Leaders: MUREB, FML, NATF, THALL, ARPL, JSCL, DAWH, GRAYS, TPL and PAKT 13-day Laggards: JVDC, KTML, PCAL, RMPL, FFBL, AKBL, PICT, JDWS, SCBPL and FCCL
Posted on: Tue, 21 Jan 2014 07:53:55 +0000

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