JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- May 05, 2021 (PPI-OT)

KSE-100: Consolidation likely below the 50-DMA

The KSE-100 index ended the session at 44,564, up 487 points. Volumes stood at 222mn shares versus 238mn shares traded previously. The index is expected to face resistance at the 50-DMA that stands at 44,944 where a break above is needed to refresh upward momentum. Meanwhile, any downside will find support at 44,076 where a fall below will target the 200-DMA at 42,912. The indicators are mixed, signaling no clear trading view. JS Securities Limited recommends investors to stay sellers below the...

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