I do not invest in Karachi but was clear that the neighboring market was going to beat the Nifty. Now it is also important from a geopolitical angle. Do not expect escalation of border problems during a bull market. Frankly they do not care and do not have time for this. Not in the near future ie the next six months because wave 5 is still extending and should touche the upper end of the rising channel since 2009 before it is done. Maybe even a throw over the line. 66000-70000 remains on the cards. This is a quarterly chart.
Sri Lanka is in a long term 4th wave consolidation that might eventually transform into a 4th wave. So far wave C was 61.8% of wave B. Wave D can test the upper line at 7610 and wave E the lower line near 6261. After that a 5th wave bull market will follow.
Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic and international clients. Views expressed in this article are purely of the author – Mr Rohit Srivastava – a leading technical analyst. Visit www.adamsmith.tv for services offered by Adam Smith Associates Pvt Ltd