Current sentiments indicates the level of oversold status of CSE in recent past. This was expected well before but now it continues to reach country's true potential. Recent meeting had with SC securities Chairman stated that present trend was on the sidelines.
Few facts for such CSE behavior;
1. Heavy discounted counters attracted new comers.
2. Foreigners were net buyers in the market as new entrants as well as to average their portfolios.
3. Funds available with local retail accounts.
4. Perception/credibility build among investors with appointment of new Chairman.
5. more buying of HNWI.
However with current levels it is important to invest counters which have now risen among rest.The following are some picks which may lead in coming days.
1. SAMP - Expected levels Rs 260/-
2. TKYO - Expected Rs 48/-
3. BRWN - Expected Rs 190/-
4. GLAS - Expected to reach 11/-
Considering present trend the ASI is expected to reach 6300 which could be a resistance level. More discounted shares have high potential of marking more profits in your portfolios.
Therefore please share more discounted counters for the benefit of other members;
Happy Trading
OTM