Technical Report 08-09-2021
Market closed below the support level of 46.404.07 pts, deprived with negative 333.25 pts. The points narrated on
the graph also indicates that as market closed below the support level, still there was much buying that could be
seen in the last hour so we may witness an upside trend in next sessions ahead.
Outlook and Expected Level in Upcoming Day
RSI shifted its position to a bearish run to oversold state. Aside, 150-day moving average is in bullish trend at 46,440
pts so we may witness an upward trend cycle. In order to expand, index needs to close above 46,900 support level
by the end of week.
Outlook and Recommendation
We expect the market to change trend from bearish to bullish state momentum.
* MSCI announcement has impacted the market today.
Y.H. Securities (Private) Limited is a full service brokerage house in Pakistan.The company's sole purpose is to provide high quality advisory service to its valuable clients on equity market, through a team of qualified and diligent professionals.
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