JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- January 20, 2023 (PPI-OT)

KSE-100; Recovery trend remains intact

Recovery movement continued for the KSE-100 index as it gained 40 points DoD to close at 38,832. Volumes stood at 158mn shares versus 153mn shares traded previously. The initial target seems to be at 39,389, which could later extend to 40,089. However, any downside will find support in the range of 38,540-38,690, followed by 38,258. The RSI has moved up and the Stochastic Oscillator has also generated a Buy signal, supporting the recovery view. JS Securities Limited recommends investors to 'Buy' for trading gains...