Sinking Boat In Karachi Stock Exchange

KSE boat caught in trouble because of implications of CGT, possibilities of CVT and lot more to come on economic front.
Most of the political parties not agreed with the budget announcement and like to negotiate which will further build pressure for government and that will impact the IMF trenche.

Future Outlook:
Sharp decline witnessed right after breaking the level of 9,671, market breathed at 9,608 and thereafter huge selling pressure observed which rested around 9,370.
Now this is time to worry about you positions, bulls lost control, and finding no room to survive, currently market closed on critical level, little hope for sharp recovery in early hour, if this happens it is recommended to offload any remaining position as the existing pressure got the ability to slide market further down and this may continue in next week too.
I will call a decisive move today, which I was expecting more on Friday, now expect some sharp recovery followed by the profit taking.
Currently no buy recommended as market is under full control of bears, last session of the week will attest the trend of the market.
Preventing loss is also a success in capital markets, so try securing your capital investment in current scenario and gear up for target buying for great returns.

That’s why we recommend TRADING ON LEVELS

Key Levels
9676
9608
9560
9507
9419
9259-9236
9202
9162-9151
9012-8989

Source: NCCPL
Foreign Investors Activities
10th June, 2010
Net Sell USD $ 310,563


Disclaimer: This commentary, news or key levels are not a recommendation to buy or sell, but rather a guideline to interpret 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.