JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- June 11, 2021 (PPI-OT)

KSE-100 again in the resistance area; Stay cautious

The KSE-100 index posted a gain of 474 points to close at 48,251. Volumes stood at 1,039mn shares versus 1,355mn shares traded previously. The index is likely to re-test resistance at recent high of 48,633 where a break above will cause the uptrend to resume. However, any downside will find support in the range of 47,920-48,105 where a fall below will target 46,722. The indicators are mixed, signaling no clear trading view. Investors are recommended to stop selling above 48,633...

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