Negative Impacts: As such we do not have many negative impacts for the market technically but politically we feared for most of the issues, the pre-budget statements will be on top followed by the military operation in northern area, it is also required to keep eye on global relationship on do-more exercise.
Technical Outlook:
Now we are looking more of bullish trend, provided by country’s political development, as we observed the last week market was desperately wanted to get into strong bullish trend which was intersected by the pre-budget political statements and ongoing IDP’s and Military operation issues.
Luckily market swallowed many of the negative impacts, I feel BULLISH but I am not convinced for strong bullish trend it will be most likely to be following the range of 7028 to 7296. (In case of same volatility range).
Though we have seen some foreign buying but I do not see the establish confidence in local investors. We have to be preparing for more pre-budget rumors this week.
Bullish Trend will be establish, if Monday we experience the most of the trading above 7166 and closing above 7175, trading below 7122 on Monday will discourage buyer for the week.
Market experienced low volatility this week; volatility may get higher with the political developments.
Disclaimer
This report is prepared solely for information and data purposes. The above is not recommendation to buy or sell. 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.
