Kospi Index Today 08 October
Today as on 08 October kospi index opens negatively down by 18 points at 2592.
It closes at 2594 around its opening price of 2592.
but it was down by 16 points Or 0.61% from the last day closing price of 2610.
In the early session it was trading negatively but after spending to hours in down side some buying were made and index recovered from it’s day low.
2580-85 worked as a support for intraday and index recovered from that point.
Kospi index made a law of 2581 and a high of 2601.
If we see in the previous day movement of the Index..
As on 07 October kospi index has shown a great moment and closes up by 40 points of at 2610.39
The previous close price of the index was 2569.72.
Last day Kospi index opens Positive up by 10 pints, traded positively and made high of 2611.93 and closes at its peak.
Index shown a great bounce back from the level of 2550., as we have already discussed in our previous blog about the support and resistance of this Index.
kospi succeed to close above the 50 day moving average last day.
Reason Of Fall of Kospi Index
it is assumed that earning of Samsung electronics did not meet the expectation.
Chip manufacturers did not meet the expected quarterly profit particularly in Ai chip segment.
Samsung electronics itself closes in negative down by 1.15%, most of the shares of South Korea closes in negative.
Wall Street losses also contributed in negative close of Korean stock price index (kospi)
it impacted the overall market of South Korea and that is why most of the stocks closing most of the stocks closed in negative.
some battery or E-Commerce stock shown positive movement.
Tecnical Analysis Of Kospi Index
intraday Support and Resistance
2580-90 is a very important level for Korean stock price index (kospi). Today index support of this level and bounce back.
if this level breaks index may fall towards 2550. There we may see a bounce back.
in the resistance side 2600 – 2610 will work as resistance for the index in intraday.
