The Pakistani stock market’s KSE-100 index maintains a higher level of investor equity. Over the last 24 weeks, the index has risen by over 60%, demonstrating impressive performance.
KSE100 has gone parabolic and the nearest support for it on the weekly is at 48700 points approximately, be very cautious as there could be a sharp move around the corner in the opposite direction for it because there is least or no market structure built on the way up.
On the daily nearest support is at 55417 level although, its not a strong support.
Although we advise to be cautious but still the RSI on the Index still hasn’t shown any signs of weakness which is indicating that there might be a blow-off top for KSE100 incoming.
