JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- October 26, 2022 (PPI-OT)

KSE-100 likely to test support at 50-DMA; cautious

KSE-100 index ended the session lower at 42,190 with a DoD loss of 157 points. Volumes stood low at 195mn shares versus 227mn shares traded previously. The index is expected to test support at the 50-DMA that is currently at 42,020 where a fall below that will extend the decline towards 41,683 (30-DMA). However, any upside will face resistance in the range of 42,290-42,520 where a break above that will target the 200-DMA at 43,191. The indicators are mixed, signalling no clear trading view. Investors are...