KSE 100 | Bearish Flag Formation on 15m time frameThe KSE 100 Index is currently exhibiting a bearish flag formation. The projected target for this formation is approximately 76,200. This level, which previously served as a resistance following the formation of a double top pattern, may now act as support following its breakout on June 14, 2024. It is advisable to monitor this level closely and adjust trading strategies accordingly.
KSE100 trade ideas
KSE 100 IndexKSE 100 is currently rejecting from its resistance around 80,810, with the expectation of break and sustain and we expect market can test its next resistance that lies around 86,690 in the upcoming quarter and on the flip side, its support lies around 76,187.
Expected Levels for the next quarter
Resistance: 86,690
Support: 76,187
KSE100 Index | PSXThe 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.
KSE 100 ANALYSIS 2.0๐จ Trade Alert: KSE 100 Double Top & Bearish RSI Divergence ๐จ
We have identified a bearish setup in the KSE 100 index, marked by the following patterns:
Double Top Pattern ๐
RSI Divergence ๐
Technical Indicators:
The RSI shows a significant bearish divergence, indicating a potential downward move.
The Higher Low (HL) has been broken, reinforcing the bearish sentiment.
Target Price (TP):
TP: 73500 ๐
Trade Summary:
Pattern: Double Top with RSI Divergence
Current Action: HL is broken, signaling further decline
Expectation: Index will fall to 73500
Trade Type: Short Swing ๐
Good Luck! ๐
Stay informed and trade smart! ๐
KSe 100 short graph analysis.Market Update: ๐ The market recently breached the resistance zone at 72200-72700, edging towards its main resistance at 7300-73300. However, it faced rejection in this zone. Currently, ADX and DI+ are falling, while DI- is rising. If DI+ and DI- cross, and ADX continue to decline consistently, it may be prudent to consider profit-taking instead of buying. consider profit taking.
Strategy Adjustment: ๐ Monitor closely for ADX and DI trends. If they indicate weakening bullish momentum and the market settles around 72100, it might be a good time to secure profits rather than initiate new positions. Stay vigilant for further market developments. Best of luck with your trades! ๐ช๐.
Market Analysis for KSE 100 Index ๐๐๐น (6 MAY 2024)Recent Trends:
KSE 100 recently saw a downturn, shedding 2500 points over a couple of bearish sessions.
However, the latest session witnessed a bullish surge, adding 1200 points in a single day.
Technical Indicators:
Bullish reversal harmonic pattern and a bullish flag formation suggest a target of 74500.
RSI indicates bullish divergence and is now in sync with the index.
Upcoming Forecast:
The next 2-4 days are crucial; a break above 73300 with a new higher high (HH) and no bearish divergence could signal a bullish market.
Strong resistance zones at 72300-72600 and 73000-73500 must be surpassed for further upward movement.
Beware of the bearish rising wedge pattern; if RSI shows bearish divergence and meets resistance at these zones, a bearish trend may emerge.
Trading Strategy: ๐๐ผ
Trade conservatively with low quantity.
Consider profit-taking by selling on the higher side.
Watch market behavior closely and adapt strategy accordingly. ๐ง
Stay vigilant and good luck with your trades! ๐๐
Kse 100 Analysis.Over the last two working days, the KSE 100 index has undergone two bearish sessions. It is anticipated to encounter substantial support soon, likely around the Fibonacci 0.382 level, coinciding with the trend line between 70,700 and 70,800. Should this support level be breached, the next probable support is projected at 70,000. The Relative Strength Index (RSI) on the shorter timeframe is currently in the oversold territory, while the Average Directional Index (ADX) on the daily chart continues to indicate strength. The bearish pattern on the 1-hour chart suggests a falling wedge with a target of 70,500, implying that the market may decline by approximately 500-600 points but is expected to recover shortly thereafter.
try to buy your shares at the levels you find out cz share prices are at very discounted prices.Start gradual buying.