JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- June 15, 2021 (PPI-OT)

KSE-100 - A bearish divergence on RSI; stay cautious

The KSE-100 index failed to sustain its intraday high of 48,982 and slid to close at 48,726, up 421 points. Volumes stood at 1,217mn shares as compared to 1,024mn shares traded previously. The index is likely to revisit yesterday's high where a break above will extend the gain towards 49,162, followed by 49,710. However, any downside will find support in the range of 48,300-48,670 where a fall below will target 46,937. A bearish divergence has been created on the RSI, warranting a cautious stance. JS Securities Limited recommends...