10,705 - OGDC reams the market
November 17, 2006
The Karachi Stock Market made a high of 10,945 and then dived down to 10,683, closing at 10,705. OGDC got fucked in the last 20 minutes and went down to its lower limit taking off most of the gains in the other stocks as well. Closing below its 30,50 and 200 DMA , OGDC could go down to 127 or further depending on the news, if any, that made it crash.
While the market has held on 10,700 it has closed below its 30 DMA. There could be a minor pullback on Monday if OGDC recovers, or the next stop downwards is 10,500. A classic ‘’ Friday Show ‘’ !!
News : The Securities and Exchange Commission of Pakistan (SECP) and the Karachi Stock Exchange (KSE) have agreed that risk management measures… Business Recorder
The management of Karachi Stock Exchange (KSE) has decided to arrange a Special Session for conversion of In-House Badla into Continuous Funding System (CFS)…. Business Recorder
UPPER CAP : Crescent Commercial Bank / Callmate Telips
Market Low : 10,683.05 High : 10,945.35
Market Close : 10,705.87 — 144.17 points down.
