JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- July 03, 2020 (PPI-OT)

KSE-100; Consolidation expected

The KSE-100 index witnessed a volatile session to close at 34,978, up 89 points. Volumes stood at 383mn shares versus 315mn shares traded previously. The index is likely to revisit yesterday's high of 35,177 where a break above will lead to further gain towards the 200-DMA at 36,142. However, any downside will find support at 34,889 where a fall below will target the 30-DMA at 34,188. The RSI and the MACD have moved up, supporting a positive view. Investors are recommended to 'Buy on dips', with...