JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- June 25, 2020 (PPI-OT)

KSE-100; Consolidation to continue

The KSE-100 index closed the session lower at 34,035, down 18 points. Volumes stood at 196mn shares versus 161mn shares traded previously. The index is likely to test resistance in the range of 34,040-34,160 where a break above will target 36,044 (200-DMA). However, a fall below 33,938 will extend the decline towards the 50-DMA that is standing at 33,477. The indicators are mixed, signaling no clear trading view. Investors are recommended to 'Sell on Strength', with risk defined...