KSE-100 for 13th to 17th July 2009 Karachi Stock Exchange

By Khalid Saifuddin July, 12th , 2009 9:00 pm

Market is either a daring adventure, or nothing.
You already got these for now Profit taking only
Profit taking will be a secure decision

Hi Folks:
As per my last week analysis I suggested offloading remaining positions on Monday high, I congratulate all those who did that; though we have seen some amazing high on Tuesday. But later whole week we have seen market below Monday closing and as per my forecast we got the opportunity of buying back with correction and market made a low of 7430. I am still not looking at any bearish trend, but I am not convinced for any strong bullish rally from here. Market is trading close to its highs (I mentioned this last week) and I feel more sideways activity or mild bullish activity. My last week off loading call was because of the same feeling. Market only rose by 0.42% this week. Proved right? Technically market is not prepared for strong bullish rally unless it breaks 7670 with the pressure in first two days of the week. Increasing foreign interest in the market is the positive sign for the market though the buying was less then the last week. But I do not feel any panic selling in their portfolio. Another positive expectation is the in coming future product to the market.
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Key Levels for this week (Please call for intraday Key levels)
R 2 7671
R 1 7547
S 1 7436
S 2 7322 - 7337

I am recommending the same what I did last week “buy on certain levels and selling in few scrips right now. I do not see any reason for Panic.
For precise KEY LEVELS and further analysis for any KSE scrip
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Disclaimer: This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. We accept no liability whatsoever for any loss arising from any use of these levels. However the author DOES NOT GUARANTEES the accuracy of information provided on this report and is NOT RESPONSIBLE FOR ANY ERRORS AND/OR OMISSIONS.