JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- November 17, 2022 (PPI-OT)

KSE-100 just above its 200-DMA; 'Buy on dips'

Range bound activity continued for the KSE-100 index as it closed at 42,984, up 187 points DoD. Volumes stood at 187mn shares versus 189mn shares traded previously. The index has closed above the 200-DMA and is expected to re-test resistance at 43,098 where a break above that will continue the uptrend with 43,634 and 44,229 as the next targets. However, any downside will find support at 42,729 where a fall below that will initiate the corrective trend with 42,355 in sight. The RSI and the MACD have improved, supporting a positive view. JS Securities Limited...