JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- November 18, 2022 (PPI-OT)

KSE-100; An Engulfing Bear - stay cautious

KSE-100 index witnessed a negative session to close at the 42,820, down 164 points. Volumes stood at 181mn shares versus 187mn shares traded previously. The index is likely to face resistance at 42,936 (200-DMA), followed by 43,120 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 in the range of 42,730-42,770 where a fall below that will initiate a corrective trend with 42,355 in sight. The indicators are mixed, signalling no clear trading view. Investors are recommended to...