Hats Off To The Bulls Of KSE Short‐Term: All ingredients - TopicsExpress



          

Hats Off To The Bulls Of KSE Short‐Term: All ingredients (trend, volume, momentum and breadth) for continuation of bull trend remain intact. Expect continuation towards 28,420 — 28,554 levels with immediate support around 27,984 — 27,938 levels seen neutralizing any selling pressure. Additional strength would aim for 29,039 — 29,682 levels (ultimate target). General Outlook: Benchmark KSE is rising in the fifth wave (marked as v of 5) of bullish impulse started from Oct’13 low of 21,476 level, which can possibly travel towards 29,039 level —scoping for the 161.8% projection for the third cycle degree wave. The aforementioned resistance is forming a confluence zone with two upper channel lines (bold and dotted) drawn on two different degree counts. Key short-term support now resides around 26,263 level. Befriend the bull trend. Preferred plays include ENGRO, PSO, AICL, PTC, SNGP, PAEL, NRL, EPCL, AKBL, FABL and BOP. 13-day Leaders: PAKT, NIB, SNBL, UBL, PSEL, ICI, LOTCHEM, PKGS, HMB & EFUG 13-day Laggards: FML, ARPL, PSMC, KTML, AKBL, NCL, NESTLE, ANL, SCBPL & NML
Posted on: Fri, 04 Apr 2014 03:59:42 +0000

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