JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- February 22, 2019 (PPI-OT)

KSE-100; Range bound activity to continue

Range bound activity continued for the KSE-100 index as it lost 209 points to close at 40,071. Volumes stood at 103mn shares versus 132mn shares traded previously. The index is expected to face resistance in the range of 40,230-40,420; where a break above will target the 200-DMA at 40,879. However, a fall below yesterday's low will extend the decline towards 39,285. Meanwhile, the RSI and the MACD have moved down, supporting a negative view. JS Securities Limited recommends investors to 'Sell' on the...