JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- September 20, 2022 (PPI-OT)

KSE-100 likely to test its key support level; cautious

A steady downtrend continued for the KSE-100 index as it lost 159 points to close at the 41,521 level. Volumes stood at 148mn shares versus 219mn shares traded previously. The index has formed a lower high and lower low that indicates potential further downside risk. The index is expected to test its key support at 41,418 where a fall below that will target 40,670. However, any upside will face resistance at the 50-DMA that is at 41,784 level. A cautious stance is required at current...