JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- June 01, 2021 (PPI-OT)

KSE-100 above its Upper Bollinger Band; wait for dips

The KSE-100 index extended the gain to close at 47,896, up 770 points. Volumes stood at 1,412mn shares versus 960mn shares traded previously. The index is likely to continue the uptrend with 48,275 and 49,162 as the next targets. However, any downside will find support in the range of 47,350-47,670 where a fall below will kick off the corrective trend. The RSI and the MACD are heading up, supporting a positive view. However, a short term fallback inside the Bollinger Band cannot be ruled out. JS Securities Limited recommends...