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KASB Securities Limited and Economics Research- The Keystone – Equities

Karachi, October 04, 2012 (PPI-OT): KSE-100: KSE‐100: All time high levels touched while holding trend line support

According to KASB Securities Limited,

• The index opened positive and registered its all time high of 15,747 points but was unable to sustain at that level.

• The Stochastic Oscillator has maintained a buy signal whereas the RSI, although overbought is also signaling upside.

• It is recommended to stay cautious at current levels.

Analysis and Overview:
The index opened positive and registered its all time high of 15,747 points but was unable to sustain at that level due to shallow volumes which decreased 24% and stood at 108 million. However, the index managed to close above its critical trend line support that is now at 15,580 points and could now consolidate at the upper levels. The index can again target 15,740 points but some selling pressure can be seen at or above that level. A closing above 15,740 points could lead to a test of its psychological level of 16,000 points.

The Stochastic Oscillator has maintained a buy signal whereas the RSI, although overbought is also signaling upside.

It is recommended to stay cautious at current levels. KASB Securities Limited suggests buying near the trend line support of 15,580 points. Strong buys could emerge if the index closes above 15,740 points.

The first support is at 15,659 points and the second support is at 15,580 points. The first resistance is at 15,740 points and the second resistance is at 15,818 points.

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