Karachi Stock Market Forecast for July 6th – 10th, 2009

Posted on July 6, 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.

Last week achievements on Key Levels
Total Volume this week 677,894,384 Volume Gain (Lost) 132,843,764
Difference of high and low 416 Market Gain (Lost) 308.24

Last week achievements on Scrips

Bullish recommendation proved 95.45% true
Friday Cls Friday.Cls Gain Achievement Trend
June 26, 09 July, 3rd (Lost) Percentage
ATRL 126.65 144.36 17.71 13.98% Bullish
ANL 22.69 25.47 2.78 12.25% Bullish
PSO 207.17 227.01 19.84 9.58% Bullish
NBP 66.12 71.35 5.23 7.91% Bullish
OGDC 78.12 83.91 5.79 7.41% Bullish
POL 146.79 155.47 8.68 5.91% Bullish
FFC 87.59 92.68 5.09 5.81% Bullish
LUCK 60.64 64.03 3.39 5.59% Bullish
BOP 10.65 11.2 0.55 5.16% Bullish
JSCL 24.01 25.24 1.23 5.12% Bullish
MCB 155.03 162.04 7.01 4.52% Bullish
AICL 85.11 88.66 3.55 4.17% Bullish
ENGRO 129.85 134.7 4.85 3.74% Bullish
PPL 188.50 194.82 6.32 3.35% Bullish
FFBL 17.50 18.07 0.57 3.26% Bullish
NIB 4.82 4.96 0.14 2.90% Bullish
AHSL 28.27 29.09 0.82 2.90% Bullish
FCCL 6.71 6.9 0.19 2.83% Bullish
BAFL 10.71 10.88 0.17 1.59% Bullish
UBL 40.03 40.51 0.48 1.20% Bullish
NETSOL 18.08 18.1 0.02 0.11% Bullish
DGKC 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.

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