JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- August 05, 2022 (PPI-OT)

KSE-100 just below its 50-DMA; Hold

KSE-100 index witnessed another positive session to close at 41,425, up 357 points DoD. Volumes stood at 275mn shares versus 333mn shares traded previously. The index has closed above the 30-DMA and is likely to re-test resistance at yesterday's high of 41,630 where a break above that will extend the gain towards 42,500, followed by the 100-DMA at 42,859. However, any downside will find support in the range of 41,340 to 41,100 levels, The RSI and the MACD have continued to rise, supporting a positive view. Investors are recommended to 'Buy on...