Sanie Khan
Charts targeting kse-100 index towards 21000 : Faheem Raza
Technical Analysts are seeing more pressure in the market. Talking to the Senior Technical Analyst Faheem Raza who works in Next Capital the subsidiary of MCB bank .Raza is also working as a Deputy General Secretary of Society of Technical Analysts Pakistan (STAP). Said that Index charts are indicating more pressure in upcoming day and targeting index market towards 21000 and after completing this rally market would be in the post October rally He said that the market always surges big after October as banks normally get done with their records of the first quarter of the new financial year during the period. He argued that in the Year 2003, the benchmark KSE 100-Index had jumped from 3,793 in October 2003 to 5,660 levels in January 2004; in the Year 2004, it jumped to 10,505 in January 2005 from 5,243 levels in October 2004; in the Year 2005, it climbed from 8,287 in October 2005 to 12,237 in January 2006; and in the Year 2007, it surged to 15,739 in January 2008 from 14,321 levels in October 2007.
He added that this correction would be an opportunity for the investor and institution who really want value for money investments.
Syed Zaki Hussain
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