10,306 - breaking out over 10,200
September 22, 2006
The market finally broke out of its recent range bound behaviour (9,800-10,200) making a high of 10,346 and closing at 10,306. Now that it has closed above its 30 and 50 DMA , the next resistance is 10,350 and 10,480. The last time it closed above 10,306 was a month ago.Volumes were substantially higher at 238.9 million shares traded. MCB has gone up over Rs.25 in the last 2 days and all banks are currently hot.
News: The Karachi Stock Exchange might be closed for trading on Monday 25th September as it could be a holiday for the first day of Ramzan.
SECP approves six Modarabas …. Business Recorder.
Maple Leaf Cement will anounce its results on Monday if the market is open.
UPPER CAP : CTTL / PIOC / SSGC
Market Low : 10,155.1 High : 10,346.53
Market Close : 10,306.75 — 151.65 points up.
