TECHNICAL ANALYSIS VIEW OF PAKISTAN STOCK MARKET

By (Misbah Maqbool)

July 20, 2020 (MLN):

KSE 100 WEEKLY CHART

KSE 100 DAILY CHART

Last Friday KSE 100 index closed up 329 points on DoD and 1,140 points on WoW basis to 37,330 level. Currently market is in uptrend which will be intact until market trades below 36,000 index level. Market’s shorter period moving average is above its longer period moving average. MACD signal line is trading above its 9 day exponential moving average.

STRATEGY: Buying is advised with initial Stop Loss of 36,000.

Given below please find technical analysis view and charts of key scrips:

KEY SCRIPS SHORT TERM TREND AND SUPPORT/RESISTANCE LEVEL
SymbolsClosingTrendSupport/ResistanceMA TrendMACD Trend
DGKC104.98UP101.06UPUP
GHNI170.3UP121.52UPUP
ISL62.7UP58UPUP
TRG37.42UP35.4UPUP
Support/Resistance value are mentioned in black and red respectively

 

DGKC

DGKC has support at Rs. 101.06 for near future. EMA cross and MACD cross are providing positive trend indication.

STRATEGY: Buying is advised with initial Stop Loss of Rs. 101.06.

GHNI

GHNI has support at Rs. 121.52 for near future. EMA cross and MACD cross are providing positive trend indication.

STRATEGY: Buying is advised with initial Stop Loss of Rs. 121.52.

ISL

Shorter period EMA is above its longer period EMA. MACD is also showing positive trend. In near future its support level will be Rs. 58.00.

STRATEGY: Buying is advised with initial Stop Loss of Rs. 58.00.

TRG

TRG stop loss level is at Rs. 35.40. Shorter period EMA is above its longer period EMA. MACD is also showing positive trend.

STRATEGY: Buying is advised with initial Stop Loss of Rs. 35.40.

 

“Misbah Maqbool is a MBA and CIM (Chartered Investment Manager). He has served over 20 years as Portfolio Manager in various Leading Financial Institutions namely National Bank of Pakistan, Pak Brunei Investment Company, Pak Oman Investment Company and Alfalah GHP Investment Management Limited.”

Disclaimer: The opinions in this article are the author’s and do not necessarily represent the views of Mettis Link News (MLN)

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Posted on: 2020-07-20T08:45:00