JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- January 17, 2023 (PPI-OT)

KSE-100; Slide to continue

Bears continued to dominate the session as KSE-100 index lost 603 points to close at 39,721. Volumes stood dull at 106mn shares versus 173mn shares traded previously. The index is expected to target its recent low of 39,028 where a fall below that will extend the decline towards 38,511, followed by 38,191 level. However, any upside will face resistance in the range of 39,910-40,170. The RSI and the MACD are moving down, supporting a negative view. JS Securities Limited recommends investors to 'Sell' on the higher side, with risk...