JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- November 22, 2022 (PPI-OT)

KSE-100; Consolidation to continue

KSE-100 index witnessed range bound activity to close at 42,761, up 31 points. Volume stood low at 133mn shares versus 189mn shares traded previously. The index is likely to re-test resistance at 42,913 (200-DMA) where a break above that will cause the uptrend to resume with 43,120 and 43,634 in sight. However, any downside will find support in the range of 42,600-42,665 where a fall below that will extend the decline towards the 30-DMA at 42,187, followed by the 50-DMA at 41,897. The indicators are mixed, signalling no clear trading view. Investors are...