Morning Call for Friday 30th, Oct, 2009

By

Khalid Saifuddin

Safely Invest

Updated: Oct, 29th, 2009. 8:00pm

Morning Call for Friday 30th, Oct, 2009

Proper interpretation of Hilary Clinton point and corporate announcement may get market into bulls

Foreign investment continuously increasing

KSE-100 – Selling Pressure exist

Mixed activities observed, traders were coming forward to buy positions but unfortunately the mutual funds and institutions were not supportive, alone Foreign investors supported the market by USD 2,337,839. Market after making a low of 9073 was able to close exactly on our given support level. In fact the past two days closing is not letting us to go for bearish trend though the market is in selling pressure. Fear still exists in investors due to Peshawar blast.

I am not loosing hopes, the positive trading activities on last day of the week will enhance the courage of the local investors and I am sure that will also push the institution to buy back their position. For Friday it is required for market to close above 9265 to stay in bullish hopes. Trading above 9325 will add energy to bulls.

Be selective in scrip and sector, as you know that market recorded the mixed activities.

Key Levels for the market

9,554

9,442

9,380

9,278

9,252

9,211

9,177

9,100

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.