JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- January 19, 2023 (PPI-OT)

KSE-100; A short term recovery to continue

KSE-100 index showed positive movement to close at 38,791 level, up 449 points DoD. Volumes stood at 153mn shares versus 206mn shares traded previously. The index is likely to revisit yesterday's high of 38,946 where a break above that will target 39,389, which could later extend to 40,089. However, any downside will find support in the range of 38,380-38,670. The Stochastic Oscillator has improved and the RSI has generated a Buy signal, supporting the recovery view. JS Securities Limited recommends investors to 'Buy' for...