Morning Call for Wednesday Oct 28, 2009

Morning Call for Wednesday

Oct 28, 2009

Decreasing volatility increasing hopes with some upcoming development, Ultimate Target Bullish

New buyers still welcome

By

Khalid Saifuddin

safelyinvest

KSE-100

Yesterday mixed activities recorded in Karachi Stock Exchange , it is also observed that the mutual funds were off loading their positions while the local traders and Foreign Investors were in buying, alone FIPI got inflow of USD 1,924,621.
The other reason of pressure was the corporate results and institutional sales, this pressure may continue in first half of trading today (Wednesday)

Though the market closed in selling pressure, but I do not see many reasons for the continuation of this pressure, to stay in bullish channel it is required for the market to close above 9244 today.

I see most of the political development positive for the market in a short term manner and visit of US foreign minister will bring more bull power to the market.

So I recommend buyers to take advantage of the early dip and buy their scrip on given support levels with the calculated stop loss. And tell you this is the time to target your buy price in specific sectors and choose your choice of scrip.

This is the right time to design new portfolios targeting next quarter.

Key Levels

9,554

9,478

9,441

9,379

9,285

9,238

9,192

9,035

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Disclaimer: This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. We accept no liability whatsoever for any loss arising from any use of these levels. However the author DOES NOT GUARANTEES the accuracy of information provided on this report and is NOT RESPONSIBLE FOR ANY ERRORS AND/OR OMISSIONS.