Dhaka Stock Exchange – Technical Commentary for Week Ending 7th April, 2016

This week index gain 1.96% with higher volume compare to last week. In
weekly chart index formed morning star candlestick pattern which is a
bullish reversal pattern. We need one more bullish candle in weekly
chart to confirm this move. Overall all the time frame are still on
downtrend. Still there is not any strong confirmation . So its better
to wait and observe the market. Next support and resistance levels
are 4220 to 4150 and 4550 to 4750.Daily

Weekly

Monthly

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Dhaka Stock Exchange – Technical Commentary for Week Ending 31st March, 2016

This week index lost 0.3 % with lower volume compared to last week. Index bounces from the Fibonacci 61.8% level but the volume was not so impressive. Long term support zone is on 4150 to 4220. If index continue to moves in upward direction in coming week with volume support then we can expect some bullish movement. If not then it may decline further. Still index not yet confirmed the bullishness. So it’s better to observe this downtrend and wait for the confirmation.

Let’s wait and see.

Daily

Weekly

Monthly

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Dhaka Stock Exchange – Technical Commentary for Week Ending 24th March, 2016

Monthly Weekly Daily

Weekly View: This week index lost 1.9 % with higher volume compared to last week. Index continued sliding with higher momentum. This downtrend may continue further as per the chart. Next support level is 4220. Index is below fibo 50.0% and near to fibo 61.8%. Fibo 61.8% value is 4308. Long term support also showing market may see further decline. It’s better to observe this downtrend and stay in sideline.

Let’s wait and see.

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Dhaka Stock Exchange – Technical Commentary for Week Ending 17th March, 2016

Weekly Daily Monthly

Weekly View: This week index lost 0.9 % with lower volume compared to last week. Index continued sliding. It’s not a good sign. Next level of support is on 4330 level. Resistance is on 4550. Overall situation isn’t good. In monthly chart index created new low whereas month not yet closed.

Index is in clear downtrend for the couple of weeks. Until it comes to uptrend, it will be better to observe the market. Only one hope is left that is it’s on its long term support zone. If it holds the index then its good. If not we may see severe correction in the market.

We are in very crucial stage. Caution is very necessary.

Let’s wait and see.

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Dhaka Stock Exchange – Technical Commentary for Week Ending 3rd March, 2016

Weekly View: This week index lost 2.1 % with higher volume compared to last week.

From the weekly chart, it is seen that index fails to hold its position above its support line and faces severe correction. Now it is staying above the 38.2% fibo support line in daily which value is 4000 and in monthly chart it’s above its fibo 50.0% support line.

Weekly immediate support is 4441 and resistance 4672. Monthly support is on 4376 to 4250. Over all situation is not good. Index may face further correction.

We are in very crucial stage. Caution is very necessary.

Let’s wait and see.

Monthly Weekly Daily

 

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Dhaka Stock Exchange – Technical Commentary for Week Ending 25th February, 2016

Weekly View: This week index lost 0.4 % with lower volume compared to last week.

From the weekly chart, it is seen that index is staying above the weekly chart. Breaking this support may bring more down days. It is crucial for index to bounce back from this level. If not we may see bearish market and good selling pressure in coming days.

Daily chart seems shaky and index fails to hold its support level and trading below the support zone which is alarming. Next level of support is 4500 to 4400 and resistance is 4650 to 4700.

Monthly chart seems weak. Index is not gaining with the volume or in other word we don’t see the upside momentum in the market. Only two trading days left to complete the monthly candle. To hold the bullish bias index need to rise sharply in coming two days. If not then we may see correction.

Lets wait and see.

Monthly Weekly Daily

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Dhaka Stock Exchange – Technical Commentary for Week Ending 18th February, 2016

Weekly View: This week index gain 0.1 % with higher volume compared to last week. Index is holding its position above the weekly support zone. Price is not matching with the rising volume. Price needs to gain significantly to prove that it got the support here. Upside movement chances is high but not yet confirmed.

Daily charts showing market is in sideways. No significant trend is there. Monthly seems little bullish but the monthly candle not yet closed. So we can’t came to a decision.

In one line market is still direction less, lack of strong momentum. Better to wait for the confirmation of the breakout on either side. Support zone is 4450 to 4530. Let’s wait and see.

Monthly Weekly Daily

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Dhaka Stock Exchange – Technical Commentary for Week Ending 11th February, 2016

This week index gain 0.2 % with lower volume compared to last week. Index just bounced from its weekly support zone. Still the strong momentum is missing. Good thing is that index is not closing below its support zone. Next level resistance is 4680 and resistance is 4530 on short term.

Index is in  no trading zone as there is no clear outlook /trend in the market. We will see a breakout in the market in coming days. We don’t know the direction. It may be on upside or downside. We need to wait until we get the confirm direction.

In longer term outlook, index seems neutral. Month not yet closed, for this reason we cannot conclude a decision. Support zone is 4450 to 4530. Let us see if index is able to hold this level or not.

Daily

Weekly

Monthly

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Dhaka Stock Exchange – Technical Commentary for Week Ending 06th February, 2016

This week index gained a little bit  with lower volume compared to last week.Index just bounce back from the support level. It also in resistance level in weekly chart. Situation is very much interesting. In daily chart ,we saw index bounce back from the support level. Upside level is 4640. If index cross this level and sustain we may see a strong movement. If not then it may touch 4450 to 4500 level .Its better to wait for the confirmation of the index. Lets see what happens.

DailyWeeklyWeekly Line chartMonthly

 

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Dhaka Stock Exchange – Technical Commentary for Week Ending 28th January, 2016

This week index lost 1.8 % with lower volume compared to last week. As told on earlier market synopsis, index had the next support level is 4600 to 4550. Index failed to hold the 4600 level. Now it’s heading towards the 4550 level in daily time frame. If it fails to hold this level, we may expect index to 4400 level. But 4530 to 4550 is strong level of support for the index in daily timeframe.

In medium term outlook, index is slowly creating its base for longer movement.4450 to 4500 level seems very strong zone for index as support in medium term outlook. Next level of resistance is 4750.

In longer term outlook, index seems shaky and faces resistance on its short term resistance. Month not yet closed, for this reason we can’t conclude a decision. It’s good to see that it’s still above its long term trend line. Support zone is 4450 to 4500. Let’s see index able to hold this level or not.

DWM

 

 

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Dhaka Stock Exchange – Technical Commentary for Week Ending 21st January, 2016

This week index lost 0.8 % with lower volume compared to last week. As told on earlier market synopsis, index is near to the resistance. Now we are observing little correction of the index which was expected. In shorter outlook index has the next support level is 4600 to 4550. If it fails to hold this level, we may expect index to 4550 level. In medium term outlook index is slowly creating its base for longer movement.4400 to 4500 level seems very strong zone for index as support. Next level of resistance is 5300.In longer term outlook, index seems good and bounces from its historical support level and it may reach up to 5700 to 5900.Support zone is 4350 to 4400. Let’s see index able to hold this level or not.


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Dhaka Stock Exchange – Technical Commentary for Week Ending 17th December, 2015

This week index lost (1.4) % with significant lower volume compared to last week. Index is near to the Fibonacci level (23.6) which can be a good support level in daily chart. Next level of support is 4400. Index strong support zone is 4500 to 4400.If this zone breaks down, then we may see severe correction in the index. As per weekly chart 4440 to 4400 is the strongest support zone. Resistance zone 4650 to 4750. Markets still sliding. It’s better to watch the market and wait for the right time. Let us hope for the best.

Weekly

Monthly

Daily

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Dhaka Stock Exchange – Technical Commentary for Week Ending 10th December, 2015

This week index lost (1.2) % with lower volume compared to last week. It is very interesting to see that index starts correcting after reaching the resistance level which is Fibonacci 0.0% from the daily chart. Next level of support is 4400 if index fails to cross the 4670 levels. As per the weekly chart, it is just the regular correction after the three weeks rally. Short term strong support zone is 4570 to 4530.Overall market condition is normal. We can observe the market and if index correct further we can take this opportunity as buying opportunity. Lets hope for the best. Happy Investing!!

Daily

 

 

Weekly

Monthly

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Dhaka Stock Exchange – Technical Commentary for Week Ending 3rd December, 2015

Weekly-1 Daily-1 Monthly-1This week index gained (1.5) % with higher volume compared to last week. Index is very close to strong resistance zone which is 4670 to 4900 for the second time. Coming week will be interesting to observe. If index able to cross this zone and sustain, then we may see a bullish rally. If not then it may come its support zone, 4400 to 4460. This time index may cross the 4750 zone and sustain. Chances are high but we should be cautions. As per daily chart we are safe up to 4767. After that we may see some struggle. Happy Investing!!

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Dhaka Stock Exchange – Technical Commentary for Week Ending 26th November, 2015

Monthly-1 Weekly-3 Daily-1This week index gain (0.9) % with higher volume compared to last week. This week index moving sideway. In daily , volume in downdays was lesser compared to bullish days. Index faces resistance at fibo level which was 4671 in daily chart. For further up movement index needs to break this zone. Actually 4650 to 4900 is very strong resistance zone for index. To create long term movement index needs to sustain above 4900 with good turnover. If that happens we may see index near 6800 in coming year. Index forming symmetrical triangle in both weekly and daily chart. It is good a sign. It indicates some hidden accumulation in the market. Index strong support levels are 4460 to 4400 and resistance zone is 4720 to 4750 . Happy Investing!!

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Dhaka Stock Exchange – Technical Commentary for Week Ending 28th April, 2016

This week index lost 3.3 % with lower volume compared to last week. Index falling sharply. It also broke its weekly support line and fibo 127%. Situation looks ugly. Long term support is also in question. Coming week is very crucial. Market is in long term support zone. If it fails to hold the index here 4150 then we may some more bad days. Next level of support is 4050 to 4150 and resistance level is 4300 to 4350. We need to keep caution. Let’s wait and see.

Daily

WeeklyMonthly

 

 

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Dhaka Stock Exchange – Technical Commentary for Week Ending 13th April, 2016

This week index lost 0.8 % with lower volume compared to last week. Index was in declining mood for the last couple of days. Index faces resistance on its historical resistance zone and starts to decline. Positive things are index is near to its long term support zone which is 4220 to 4300 zone. Volume is decreasing in longer cycle on downtrend. Next level of resistance zone is 4470 to 4550 and support is on 4220 to 4300. Still index is on downtrend. So we need to keep caution and waiting for the bullishness of the the index. Let’s wait and see.

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Weekly

 

Monthly

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