Morning Market Brief 28th Oct. 2021

The Benchmark KSE100 index had bounced back after getting support from a horizontal supportive region during last two trading session and a bullish engulfing patter was created on daily chart but it's recommended to stay cautious because index is still being capped by a strong descending trend line along with a horizontal resistant region below 46,000pts meanwhile in case it would succeed in penetration above 46,000pts two major resistant regions are standing ahead at 46,200pts and 46,500pts which would try to cap current bullish sentiment. Overall index would remain uncertain as long as its trading below 46,700pts therefore it's recommended to start profit taking from existing long positions and adopt cut and reverse strategy. On flip side in case of rejection from its resistant regions index would try to establish ground above 45,500pts and breakout below this region would call for 45,200pts and 44,860pts. This time index would show some serious reaction if it would not succeed in closing above 46,500pts and this whole pull back would be considered as correction of last bearish rally and fears of bearish expansion would start prevailing.

BOI to facilitate Chinese firms for participation in Industrial Expo

The Board of Investment, Islamabad, will join hands with Pakistan China Center, China-SCO Local Economic and Trade Cooperation Demonstration Area (SCODA), and Everest International Expo Pvt. Ltd, to facilitate over one hundred top industrial Chinese companies which will be participating in the Pakistan Industrial Expo 2021 being organised both online and offline in Lahore on 29th October 2021.Chinese and Pakistan companies participating in the Expo will showcase their products during the Expo i.e., mainly CNC (Computer Numerical Control) machinery, construction machinery, new energy, building material, agricultural machinery, plastic machinery, hardware, chemical, auto-parts, etc.Read More...