Breakout to 10,744
October 4, 2006
The KSE -100 index opened down correcting to 10,531 and then towards the end made a high and close of 10,774. (The last time the market closed at this level was August 4th) Managing to successfully cross the 10,650 resistance level and closing well above its 200 DMA, the market should head upwards to 10,900 with corrections along the way. In the last half hour of the session OGDC went up Rs.6 to close at Rs.134.5 , taking the index right up with it. OGDC has finally closed over its 50 DMA and could head to test its 200 DMA at around Rs.137.
News : KSE asks for in-house badla details to be provided by October 16th…. Dawn
Dividends : Kohinoor Textile : 10% Bonus. EPS : Rs.2.82
Ghandhara Industries : 30% Cash. EPS : Rs.79.44
Market Low : 10,531.45 High: 10,774.67
Market Close : 10,774.67 — 151.95 points up
