By
Khalid Saifuddin
Friday 9th 2009
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Hi Folks:[FONT=Times New Roman] [/FONT]
I was convinced that the volatility and intraday correction will make market stabilize and it did. Though market still in fragile zone but we got some positive development, the ongoing debate on Kerry-Lugar will be gone very soon like the NRO and Musharaf trail.
The incoming Leverage product will give more strength to the market, and we all noticed the pouring dollars are already getting high.
I am very much optimistic about the market now, though it will take little correction but eventually the market will hit the goal.
Trading above 9865 will energize the market and trading or closing below 9505 may bring pressure to the market. Now it makes sense to focus on long term holdings but investor must be very specific and choose the right time for buy.
Global Interest reaches 32,587,762 USD in this week and only 5,679,712 USD on Friday
The correction possibility on short term basis still exists.
Key Levels
10150
10027
9865
9667
9585
9505
Market Last Week Analysis:
I forecasted that the market will be volatile and the Kerry-Lugar bill will shake the confidence. Bulls and Bears were struggling hard to push each other, and at the end bulls got the ball.
Yes that’s true the immense foreign buying still playing the vital role in the current scenario.
I was convinced that if closing below 9375 – 9420 from Tuesday to Thursday will bring little panic to the market, and this won’t happen and make bulls back into aggressive mood.
Yes market did some correction and proved it is not going into any severe bearish trend
We did not see pressure because of political issues, Peshawar blast bring some fear to the investor. Now I see more confidence in investors
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