JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- September 19, 2022 (PPI-OT)

KSE-100; Upside restricted at the 50-DMA

Bears continued to dominate the session as KSE-100 index decline by 93 points DOD to close at 41,679. Volumes stood at 219mn shares versus 260mn shares traded previously. The index is trading below the 50-DMA that will restrict upside at 41,780 where a break above will target 42,472 (30-DMA). However, a fall below 41,603 (Friday's low) will target 41,413. We recommend investors to stay cautious on the higher side and wait for dips. The support and resistance are at...