Bearish Divergence on Daily TF.Bearish Divergence on Daily TF.
Either it should break & sustain 118400 or
it should take a breathe and retrace up till
112750 and may be till 109000.
For Swing Trades, 105600 is the Important
Support level that should not be broken.
Once, 118700 is Crossed & Sustained, we may
witness New Highs of the Index around 130000.
KSE100 trade ideas
KSE 100 Analysis 1st scenario
1. Volumes are decreasing
2. There is bearish divergence
3. Market may be retest is last lower low
and bounce back for higher high with good
Volumes
4. Due to divergence on RSI and
MACD market may be consolidated
for some time to cool of and than
goes to next highs
2nd scenario
1. Volumes are decreasing
2. There is bearish divergenc
3. If market break its last
Lower low and still volumes
are decreasing than it goes
to next support
KSE100 Index PSX -Analysis based on Elliott Wave & Benner Cycle 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 )
KSE 100 index - Correction Underway!The index after making HH @ 117039, has gone into correction, the index has retraced to 0.5 level of FIB today, another possible retracement could be till 102,000, in worst case scenario, it will be retraced to around 100k
The index as per my analysis is likely to make a reversal from these levels as 21 moving average has been tested !
Stay tuned for more updates. Keep your SL on all your stocks in place to secure your profits.
KSE 100 index is bullish until 2028KSE 100 index is bullish until 2028 to hit Life time High 350K around 2028.
But before that it is going to see 100K in coming weeks 2024-25 then rebound up towards 125K and strongly rejected downward to hit around 80K in 2026 and the start a new 4-5 year rally towards the LIFE TIME HIGH values expectedly around 200K+ and probably 350K
KSE 100 index is bullish until 2028KSE 100 index is bullish until 2028 to hit Life time High 350K around 2028.
But before that it is going to see 100K in coming weeks 2024-25 then rebound up towards 125K and strongly rejected downward to hit around 80K in 2026 and the start a new 4-5 year rally towards the LIFE TIME HIGH values expectedly around 200K+ and probably 350K
KSE 100 is ready for a short CorrectionHow's the Josh Pakistani Traders !!
This folk from India is Analyzing your Stock market, I hope you will Like IT!!
HERE WE GO WITH THE DETAIL
As we can clearly see that market has Completed its Wave 3 (Wave 3 is an impulse wave of Elliot wave structure) and Wave 3 is Extended Wave to 3.618 % of Wave 1.
So Wave 4 would be 0.382 % of Wave 3 ( Wave 4 is Corrective wave in Elliot wave theory).
SO HERE IS THE TRADE
SELL KSE100 @ 118,000-120,000
TARGET @ 87000
SL @ 123,000
NOTE : THIS IS FOR EDUCATIONAL PURPOSE ONLY PLEASE REFER TO YOUR FINANCIAL ADVISOR BEFORE TAKING ANY TRADE
HAVE A GOOD DAY TRADERS
Index is Still Bullish as long as stays above 107000.
In Shorter TF, Index should reverse from the
level around 110100 - 111000.
Important Support Levels:
S1 108500 - 110392
S2 105825 - 107445
Important Resistance Level:
116700 - 117100
To continue the Bullish Momentum,
Index needs to Break & Sustain 117100.
Selling Seen.. But...Today Index went up till 111759 &
then dropped to 107711 (movement of
around 4000 points).
Now, Immediate Support levels are
S1 107500 - 107700
S2 105000 - 105500
In worst case, Index may touch 100800 &
then rally upside again.
On the flipside, Immediate Resistance levels are
R1 111850 112000
R2 115000 116000
Further Deep Down Analysis a Detailed Analysis of KSE100 Index:
as for now, Individuals are the Major Sellers.
It is expected that in upcoming days, we may
witness further selling from Major Buyers of
these days.
There is a chance that Index may show us 102000 - 102500
in upcoming days & may be 96500 in worst case.
There is no harm untill Index stays above 94000; but...
Best Strategy should be to Sell in Profits or even
Breakeven Levels & then wait for a Proper Dip.
Slight Correction Needed?Alhamdulillah, as mentioned on 27-09-2024 that
index may touch 87000 with slight corrections, it
touched the mentioned level.
Index is Still Bullish.
It has the potential to touch 100,000 - 100,350
It may take some correction of 2000 - 3000 points.
S1 is around 88500 - 88700
S2 is around 87000 - 87200
There is no harm in the Bullish Momentum as
long as it stays above 84500.
In worst case scenario, it may touch 82000 which
seems unlikely so far.
Still bullish but...KSE100
Closed at 82082 (27-09-2024)
Last Update was given on 19-08-2024 &
the levels played the same way as
mentioned. Alhamdulillah!
Now...!
as on 29-09-2024;
Index Still has the potential to touch
85000 - 87000. However, Bearish Divergence
on Shorter TF may bring it towards
79450 - 80710 range.
It needs to Cross & Sustain 83000 to
continue its Bullish Momentum.
On the flip side, it should not break 76000,
else it may be a Trend Reversal.
KSE-100: Big bearish candle witnessedMarket Brief:
KSE-100 Index declined by 0.72% or 590 points to close at 81,658 points. Intra-day the index reached a peak of 82,906 and a low of 81,553. Volumes decreased by 2% compared to the previous trading session. The index is currently trading above the 50-day SMA level of 78,990.
The main index opened with a positive gap of 504 points and declined throughout the day, losing nearly 1,100 points net. KSE-100 is currently 14.79% above its 200-day moving average and is an uptrend. RSI is declining after reaching an overbought level and currently, the reading is at 65.26.
Recommendation:
The index will likely find initial support around 81,172. If this level is breached the index could drop further to the 80,686 – 79,819 range. On the upside, KSE-100 is expected to encounter initial resistance near 82,525 points with a breakthrough leading to the 83,392 – 83,878 range.
KSE-100: Will the Momentum Keep Climbing?Market Brief:
KSE-100 Index reduced 0.27% or 223.9 points to close at 81,850.5 points. Intra-day the index reached a peak of 82,463 and a low of 81,549. Volumes decreased by 33.08% compared to the previous trading session. The index is currently trading above the 50-day SMA level of 78,877.
The index opened the trading session with a bullish bias, reaching a high of 82,463. However, it subsequently retreated from the previous closing price, ultimately establishing a low of 81,549. Notably, the KSE-100 remains 15.59% above its 200-day moving average, reinforcing an upward trajectory. Moreover, the MACD indicator currently displays a bullish configuration, with the signal line positioned below the MACD line and accompanied by green histograms.
Recommendation:
The index will likely find initial support around 82. If this level is breached the index could drop further to the 80,960 – 80,532 range. On the upside, KSE-100 is expected to encounter initial resistance near 82,501 points with a breakthrough leading to the 82,929 – 83,486 range.