YHSL Technical Report 24-09-2021
Bears continued to haunt the market today on last session of roll-over week. KSE-100 witnessed on a negative note
of 45,073.52 with a loss of 223.36. Index closed above the Fibonacci point of 38.2% (45,009), last two red candles
also closed above the point. Today, it touched the low point of 44,861.49 but bounced back and closed above it. On
1-hour chart, last hour buying volume raised to 47 mn rupees. We believe that market will swing trend from
bearish to bullish cycle towards 45,500 point to enter in the bullish zone 46,500-47,000 level. If it continues to drag
furthermore, we may see the bearish trend range 43,500-44,000.
Technical Level in Upcoming Day
RSI took oversold bearish position and shifted its momentum to downward trend. Aside, 100-day moving average is
changed closed at 47,058.48 pt.
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