JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- January 27, 2023 (PPI-OT)

KSE-100 closed above the 30-DMA; 'Positive'

Bulls continued to dominate the session as KSE-100 index gained 1,062 points to close at 40,847. Volumes improved to 364mn shares from 269mn shares traded previously. The index is expected to re-test resistance at the 50-DMA where a break above that will target between 41,220 and 41,430, followed by the 200-DMA at 41,992. However, any downside will find support in the range of 40,050-40,550. Meanwhile, the RSI and the MACD are on a rising trend, supporting a positive view. JS Securities Limited recommends investors to 'Buy on dips', with risk...