PSX is in a bull run which is proving to be quite phenomenal.
Now the big question is where is the market top and when will it be?
Elliott Wave Theory and Samuel Banner's Century Cycle chart are the ones which I'm going to use here.
As per Benner's cycle the current bull run began in Jan 2024 and its top should be in December 2026. However, since we know that the bull run actually began in Sep 2023, therefore, by adjusting this time frame we arrive to the top by Sep 2026. (See the picture on the chart).
Referring Elliott Wave Theory - we know that it has two sets of Waves ie "IMPULSE" (1,3 & 5 along with retracement waves 2 & 4) and "CORRECTIVE" (A,B,C).
Accordingly, for me the price is in wave 3 and its completion will be around 133,000 and then it may retrace to Fib 38% (PKR 93,000 appx). Then the last wave will begin which may complete around Rs 192,000. This value has been arrived using Fib Ext Tool. So per this analysis 192,000 is the area where we should expect the TOP by end Sep 2026. Then market will go down following Corrective Wave A-B-C till end 2032.
(Note year mentioned on the Benner Cycle chart are the end of the year i.e. 31 Dec )
Now the big question is where is the market top and when will it be?
Elliott Wave Theory and Samuel Banner's Century Cycle chart are the ones which I'm going to use here.
As per Benner's cycle the current bull run began in Jan 2024 and its top should be in December 2026. However, since we know that the bull run actually began in Sep 2023, therefore, by adjusting this time frame we arrive to the top by Sep 2026. (See the picture on the chart).
Referring Elliott Wave Theory - we know that it has two sets of Waves ie "IMPULSE" (1,3 & 5 along with retracement waves 2 & 4) and "CORRECTIVE" (A,B,C).
Accordingly, for me the price is in wave 3 and its completion will be around 133,000 and then it may retrace to Fib 38% (PKR 93,000 appx). Then the last wave will begin which may complete around Rs 192,000. This value has been arrived using Fib Ext Tool. So per this analysis 192,000 is the area where we should expect the TOP by end Sep 2026. Then market will go down following Corrective Wave A-B-C till end 2032.
(Note year mentioned on the Benner Cycle chart are the end of the year i.e. 31 Dec )
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.