JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- June 30, 2022 (PPI-OT)

KSE-100 moving towards key support; stay cautious

Bears control the session as KSE-100 index declined by 468 points to close at the 41,298 level. Volumes stood at 142mn shares versus 257mn shares traded previously. The index is likely to re-test support at yesterday's low of 41,119 where a fall below that will target the critical support range of 40,550 to 40,650 levels. However, any further weakness will expose KSE-100 towards 39,769 and 39,220 levels. Meanwhile, resistance lies within 41,400-41,700 range, followed by the 30-DMA at 42,049. A cautious stance is...

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