JS Securities Limited - Pakistan Market: Technical Outlook.

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

KSE-100; Range bound activity expected

KSE-100 index opened on a negative note and remained under pressure throughout the session to close at 41,014, down 421 points DoD. Volumes stood low at 127mn shares versus 221mn shares traded previously. The index is likely to re-test support at 40,911 where a fall below that will target 40,418 which could later extend to 39,540. However, any upside will continue to face resistance in the range of 41,120-41,435, followed by the 50-DMA at 41,728. The indicators are mixed, signalling no clear trading view. Investors are recommended...