JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- May 15, 2020 (PPI-OT)

KSE-100; Consolidation to continue

The KSE-100 index extended the gain to close at 33,805, up 112 points. Volumes stood at 240mn shares versus 219mn shares traded previously. The index is likely to revisit 33,997 (yesterday's high) where a break above will lead to further gain towards 34,385, followed by 35,613. However, any downside will find support at 33,687 where a fall below will target the 50-DMA at 32,638. The RSI and the Stochastic Oscillator have moved up, supporting a positive view. JS Securities Limited recommends investors to 'Buy on...