KSE-100 update for 6th - 10th July 2009

Technical Forecast for July 6th - 10th, 2009

All glory comes after daring action
You got your profit – Wait to buy back
Think Bullish and Stay Bullish

By
Khalid Saifuddin
Sunday July 5th, 2009

Hi Folks:
I hope you are already off loaded most of your open positions on Friday, as I already sent profit taking call on Friday. It is good to offload more positions on Monday high. Finally market achieved Bullish trend, though we are going through War and worst economic figures BUT. Market still looks attractive; I rather call it amazing performance of the market under current scenario. Here we must think of correction, which is already started on Friday. Correction is not related to bears, it is always healthier sign for any trend.
In my last week technical views, I informed everybody about the first 2 days of the week, and confirmed the bullish trend. If you look at the market it almost did the same what I was expecting. Now I like everybody to calculate your achievement in this week.
WOW…..its more then what we expect right guys? For your ease below I try to give you the achievements on the recommended scrips.

Now we are pretty close to the upper limit of the market there are two possibilities either market will start performing range bond activities or follow the current bullish trend after the ongoing correction. Here traders must follow the cycle movement of the market to get more profit.

We have seen some immense buying pressure in foreign investor portfolio, earlier we noticed the week holding was USD$16,297,427 then this week the foreign portfolio added USD$9,740,632 this comes to the total of USD$ 26,038,059. This alone is enough to convince the local investors/traders for continuation of BULLISH trend.

I am recommending buy on certain levels and selling in few scrips right now. I do not see any reason for Panic. The preferred sectors will be Banking, Cement, Fertilizer, Automobile and Oil. Selling Refinery will be good decision.
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Last week achievements on Key LevelsHow the Key Levels reflected on KSE-100 last week
7555 Date 29 30 1 2 3 29-03 July7433 Day Monday Tuesday Wed Thur Fri Weekly7373 Open 7180 7219 7177 7296 7539 71807330 High 7237 7243 7292 7503 7573 75737315 Low 7174 7157 7177 7296 7452 71577268-7280 Closing 7206 7162 7270 7498 7471 74717222-7244 7142-7155 7119-7127
Total Volume this week 677,894,384 Volume Gain (Lost) 132,843,764Difference of high and low 416 Market Gain (Lost) 308.24
Last week achievements on Scrips
Bullish recommendation proved 95.45% trueSCRIP Friday Cls Friday.Cls Gain Achievement Trend June 26, 09 July, 3rd (Lost) Percentage ATRL 126.65 144.36 17.71 13.98% BullishANL 22.69 25.47 2.78 12.25% BullishPSO 207.17 227.01 19.84 9.58% BullishNBP 66.12 71.35 5.23 7.91% BullishOGDC 78.12 83.91 5.79 7.41% BullishPOL 146.79 155.47 8.68 5.91% BullishFFC 87.59 92.68 5.09 5.81% BullishLUCK 60.64 64.03 3.39 5.59% BullishBOP 10.65 11.2 0.55 5.16% BullishJSCL 24.01 25.24 1.23 5.12% BullishMCB 155.03 162.04 7.01 4.52% BullishAICL 85.11 88.66 3.55 4.17% BullishENGRO 129.85 134.7 4.85 3.74% BullishPPL 188.50 194.82 6.32 3.35% BullishFFBL 17.50 18.07 0.57 3.26% BullishNIB 4.82 4.96 0.14 2.90% BullishAHSL 28.27 29.09 0.82 2.90% BullishFCCL 6.71 6.9 0.19 2.83% BullishBAFL 10.71 10.88 0.17 1.59% BullishUBL 40.03 40.51 0.48 1.20% BullishNETSOL 18.08 18.1 0.02 0.11% BullishDGKC 30.97 29.58 -1.39 -4.49% Bearish
Total Scrip 22 Bullish 21 Bearish 1
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.