“KSE-100″ KSE 100 Weekly Technical Outlook 25 Feb 2013

February 25, 2013 7:56 pm0 commentsViews: 7

KSE25FEB

“KSE100″ KSE 100 further Upside

Our Prefrence: buy positions above 17689 with target at 18248 and 18305 and 18714

Alternative Scenario: Downward breakage of 17689 will call for 16807 and 16587

 

Pivot: 17970

1st Support: 17854,                         2nd Support: 17634,                          3rd Support: 17519

1st Resistance: 18189,                   2nd Resistance: 18305,                     3rd Resistance: 18525

Mid Points:

PP-S1: 17912,                                     S1-S2: 17744                                           S2-S3: 17576

PP-R1: 18079                                    R1-R2: 18247                                           R2-R3: 18415

NOTE: KSE 100 have widened its daily and weekly upward channel last month and is now is moving upward to retest its upper bands at 18714 but still have a resistance between 18248-18305 region, after breakage of 18305 market can touch 18425 this week and weekly closing can be expected near 18340 to 18352 if there would be no real big fundametal news. As its fomatting black crows formation in weekly charts so next week can take reversal of 2 or 3 hundered points to get its indicators normalized.

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