JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- June 03, 2021 (PPI-OT)

KSE-100; Consolidation expected

The KSE-100 index posted a loss of 64 points to close at 48,127. Volumes stood at 1,046mn shares as compared to 1,392mn shares traded previously. The index is likely to consolidate at current levels. Meanwhile, a drop below 47,960 will initiate the corrective trend with 46,508 in sight. However, a break above 48,286 will continue the uptrend with 49,162 and 49,710 as the next targets. The indicators are mixed, signaling no clear trading view. Investors are recommended to 'Buy on dips', with...