JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- January 03, 2019 (PPI-OT)

KSE-100; Consolidation expected

The KSE-100 index after making a high of 38,449 slid to close at 37,795, down 201 points. Volumes stood at 134mn shares versus 97mn shares traded previously. The index is expected to revisit yesterday's low of 37,710; where a fall below will cause the downtrend to resume with 36,274 as the downside target. However, any upside will face resistance in the range of 37,980-38,225; where a break above will continue the recovery trend with 39,001 in sight. The Stochastic Oscillator has improved, while the RSI has moved down, signalling no clear trading view. JS...