JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- June 17, 2020 (PPI-OT)

KSE-100; Corrective trend remains intact

The KSE-100 index closed the session higher at 34,019, up 195 points. Volumes stood at 218mn shares versus 263mn shares traded previously. The index is likely to re-test resistance at the 30-DMA where a break above will resume the uptrend with 35,934 in sight. However, a fall below 33,825 will continue the corrective trend with 33,117 (50-DMA) as the downside target. The RSI has improved, while the Stochastic Oscillator is heading down, signaling no clear trading view. JS Securities Limited recommends investors to stay sellers on the higher...