JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- October 27, 2022 (PPI-OT)

KSE-100 dropped below the key support; stay cautious

Bears dominated the session as KSE-100 index lost 650 points to close at 41,540 level. Volumes stood at 265mn shares versus 195mn shares traded previously. The index has fallen below the 30-DMA and the 50-DMA that will now restrict upside at 41,667 and 41,978 levels, respectively. Meanwhile, a fall below 41,490 (yesterday's low) will target 41,279, followed by 40,418. The RSI and the MACD has shown weakness, suggesting a negative trend ahead. JS Securities Limited recommends investors to...