JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- January 11, 2023 (PPI-OT)

KSE-100 expected to re-test resistance at the 30-DMA

KSE-100 index posted a gain of 297 points to close at 40,802. Volumes improved to 214mn shares from 164mn shares traded previously. The index is expected to re-test resistance at the 30-DMA standing at 40,892 points where a break above that will target 41,556 (50-DMA). However, any downside will find support in the range of 40,540-40,760 levels.

The RSI and the MACD have moved up, suggesting a positive movement ahead. Investors are recommended to view any downside as an opportunity to 'Buy', with risk defined...

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