JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- July 08, 2019 (PPI-OT)

KSE-100; Upside restricted

The KSE-100 index extended the decline to close at 34,190 (-381 points). Volumes stood at 51mn shares versus 112mn shares traded previously. The index is expected to revisit Friday's low of 34,063 where a fall below will lead to further decline towards 33,410, which could later extend to 32,695. However, any upside will face resistance at 34,571, followed by 34,762 (30-DMA). The Stochastic Oscillator has generated a Sell signal and the RSI has moved down, supporting a negative view. Investors are recommended to view any upside as an...