JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- January 04, 2023 (PPI-OT)

KSE-100; Consolidation expected below the 30-DMA

KSE-100 index posted a loss of 185 points to close at the 40,631 level. Volumes stood at 201mn shares versus 242mn shares traded previously. The current pattern suggests a short term consolidation at these levels. However, any break above 41,016 (yesterday's high) will target the 30-DMA at 41,212, followed by 41,640 (50-DMA). Though, any fall below yesterday's low of 40,595 will initiate the corrective trend with 40,264 and 40,028 in sight. The indicators are mixed, signalling no clear trading view. JS Securities Limited recommends...