Our Pivot: 17947
Our Prefrence: Go for long positions at KSE as long as 17947 is sustained as support with target at 18158 and 18272
Alternative Scenario: Downward breakage of 17947 will call for 17841
NOTE: KSE-100 is moving in bearish sentiment since last three trading sessions and have fullfilled its 61% correction for a shorter term and price cycle of 17819 to 18312 points at 17994. KSE-100 is goint to take a short term rebounce towards 18158 and 18272, closing above 18272 will call for a further bullish move towards 18462. Today’s closing can become a key turning point in KSE-100′s move because if it will close below 1947 (Our Piovt) then 4 days and 9 days moving averages cross will start pushing Key Index towards 17652. for further assistance have a look on my previous mid term analysis report on this link http://noormaier.net/kse-analysis/kse-100-kse-100-weekly-technical-outlook-25-feb-2013/
NOTE 1 (Mid Term) :KSE 100 is getting a strong resistance by a resistant trend line at 18305 which falls on a resistant trend line and is pushing market back towards corrections, KSE-100 is under caution mode for intraday sessions.
–> Intraday Supports and Resistance:
By Noor Maier
For Further Details visit http://www.noormaier.nethappy wheels
Noor Maier is serving Financial Services Industry inside and Outside of Pakistan since last 5 Years, He is providing Research for Stocks, Commodities, Forex, ETFs and Options to more than 40 Institutes around the Globe. He is also a Research Analyst at Financial Focus which is Research Based FM Radio Show for Commodities, Stocks and Forex Instruments. Financial Focus goes onair from FM 98.6 Lahore Chamber ki Awaz on Monday, Wednsday and Friday at 11 AM. Mr. Maier have introduced more than 300 research based trading plans on Commodities Trading and is author of more than 20 white papers on Derivatives Trading.