Here is KSE-100 index analysis for Pakistan stock exchange. Exchange seems to be on consolidation state as after a continuous down trend, market bounced back and after a slight correction, it seems to be trading on the sideways. Major sectors contributors for the market movement are:
- Cement
- Steel
- Fertilizer
- Technology
Below is the current live chart from PSX portal through AKD platform.
Chart Source: http://research.akdtrade.biz/advance-charting
I have added 3 important indicators for the chart and price action analysis i.e., Moving Average, RSI and MACD.
First support is on 45200 points and second support is at 44400 points, whereas, first resistance is on 46000 points where multiple rejections done by the market. After breakout from first resistance, the next resistance may be 46400 points.
MACD is showing good consolidation in trend and RSI is at its resistance point. Market seems to go anywhere towards upside or downside and there seems inconsistency.
Hope the post is informative for the investors.
Disclaimer: I am not a financial advisor. Please do your own working before any investment. The purpose of the post is for information only.
Thanks
According to macd,the price is still selling because is below zero. But your RSI still has strength to bull. Once price break the current resistant line. We will expect a bullish trend on the trade.
Posted Using LeoFinance Beta
Yes definitely. Thanks for your valuable feedback
You are welcome
Posted Using LeoFinance Beta
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