The KSE 100 index has seen a strong uptrend in the last five trading sessions, leading bullish investors to aggressively take profits around the 80,000 mark. This indicates that investors are cashing in gains following a substantial rally, potentially resulting in a brief period of consolidation or a slight pullback. The 80,000 level is a significant psychological hurdle, and how the market reacts here will be pivotal in shaping its future trajectory.
Bearish divergence with RSI is observed on daily time frame, which can predict the beginning of a bearish trend or short term consolidation. The initial support of the index is found in a range of 76,250 - 76,000. If this level is breached, secondary support lies in a range of 72,300 - 71,900.
Bearish divergence with RSI is observed on daily time frame, which can predict the beginning of a bearish trend or short term consolidation. The initial support of the index is found in a range of 76,250 - 76,000. If this level is breached, secondary support lies in a range of 72,300 - 71,900.
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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.