JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- September 22, 2021 (PPI-OT)

KSE-100 likely to re-test support at 200-DMA; cautious

The KSE-100 index posted a sharp decline to close at 46,009, down 519 points. Volumes stood at 326mn shares versus 195mn shares traded previously. The index is expected to re-test support at the 200-DMA which is currently at 45,910, a drop below this level will continue the downtrend with 45,233 and 44,567 in sight. However, any upside will face resistance in the range of 46,200-46,635. Since the index is dropped below the lower Bollinger Band, a short term rebound is expected. JS Securities Limited recommends investors to...