Скачать или смотреть BML Stock: Fundamentally Weak but Technically Strong | Should You Buy Now?

In this analysis, Sarmaaya Financials reviews Bank Makramah Limited (BML). We identify a major technical opportunity driven by powerful repeating patterns, despite the bank's history of fundamental weakness. The focus is on upcoming corporate developments that could fuel the next major rally.

Here is the complete technical and fundamental breakdown:
TECHNICAL ANALYSIS (Repeating Bullish Flags):
Pattern Confirmation: BML is consolidating after hitting a high of PKR 8.45, retesting the crucial support established by the previous Bullish Flag breakout.
Buy Zone: This presents a Value Buying opportunity on the charts.
Short-Term Targets: If bought around PKR 5.65, short-term targets are PKR 6.95 and PKR 7.67.
Aggressive Target: Based on the current pattern's projections, the next major target is set at PKR 10.50, with a potential extension to PKR 11.36.
Lower High Scenario: A bounce to define a Lower High is expected around PKR 7.50

FUNDAMENTAL TRIGGERS & RISKS:
Fundamental Weakness: BML is historically weak, posting losses even during high-interest rate cycles when other banks saw record profits. Net Interest Income remains negative.
NPLs: The bank's Non-Performing Loans (NPLs) were significantly high, largely due to issues with the Omni Group.
MAJOR TRIGGER (Asset Sale): The biggest trigger is the planned sale of the PKR 12 Billion Cullinan Tower asset in Karachi, with PKR 1 Billion already received. This cash injection is expected to improve the balance sheet.
Capital Injection: BML recently received $\text{PKR } 10$ Billion from a sponsor and $\text{PKR } 5$ Billion as an advance against share subscription.
Merger: A merger with Global Haly Development Group (GHDL) is anticipated within the next 15 months.
Operational Improvement: The Current Account Saving Account (CASA) ratio has improved from 90% to 95%.

Key Message: Technically, BML is primed for a rally. The fundamental move will be driven entirely by the realization of these major corporate triggers. This is a speculative play based on upcoming news flow.
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Comment below: Do you think BML's corporate triggers will push it to PKR 11.36?

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