JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- January 26, 2023 (PPI-OT)

KSE-100 entering the resistance zone

Positive momentum continued for the KSE-100 index as it gained 729 points DoD to close at 39,785. Volumes improved to 269mn shares from 180mn shares traded previously. The index is expected to test resistance in the range of 39,990 to 40,050 levels where a break above that will target the 50-DMA at 40,889. Meanwhile, any downside will find support in the range of 39,250-39,600 levels. The RSI and the MACD are moving up, supporting a positive view. We recommend investors to 'Buy' at lower levels, with risk...