JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- October 28, 2022 (PPI-OT)

KSE-100; Consolidation likely below 30-DMA

KSE-100 index after making a low of 41,319, recovered to close at the 41,603 level, up 63 points DoD. Volumes stood at 204mn shares versus 265mn shares traded previously. The index is expected to consolidate below the 30-DMA that is currently at 41,662 where a break above that will target 41,940 (50-DMA). However, any downside will find support in the range of 41,320-41,280 where a break below these levels will lead to further decline towards 40,418 level. The indicators are mixed, signalling no clear trading view. Investors are recommended to...