BIST100 INDEX RISES TO 1111 LEVEL

While the risk appetite in the markets increased after accelerating the studies on the Covid-19 vaccine, the indexes on the US side completed the day with a very attractive outlook. BIST100 index, on the other hand, gained 0.36 percent and completed the day at 1.111.24. While the total transaction volume in the BIST100 index was 16.6 billion TRY, it is seen that the 0.4 percent increase in the industrial index triggered the index performance upward.
 
If we look at domestic developments, it is seen that the index has increased its lucrative appearance with the effect of macroeconomic data announced above expectations. In addition, the positive effect of the US pharmaceutical company Pfizer pointing to October for the Covid-19 vaccine was felt on the market's side. However, it can be said that the geopolitical risks protected in the Eastern Mediterranean domestically weaken the index rises to some extent. Yesterday Greek Prime Minister Kyriakos Mitsotakis said "We see concrete steps from Turkey case, we are ready to start immediate negotiations" as this upturn has created a movement. On the other hand, it can be said that the rising momentum maintained on USDTRY assets poses a risk factor on the side of the index increases.
 
If we look at the BIST 100 index from a technical point of view, the fact that the prices are settled above the 1100 level can be said to be quite determinant for the continuation of the purchasing potential. In this context, if the prices settle above the 1130 resistance level, the rises can be expected to accelerate with the 1152 resistance. However, in a possible downward pressure on the index, the first support level continues to be maintained as 1076 support. We are following the 1050 and 1025 support levels at these below level closures.