JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- February 01, 2023 (PPI-OT)

KSE-100 expected to re-test resistance at the 50-DMA

KSE-100 index opened on a positive note and remained firm throughout the session to close at 40,673, up 802 points. Volumes stood at 153mn shares versus 140mn shares traded previously. The index is expected to re-test resistance at 40,701 (50-DMA) where a break above that will target 41,095, followed by the 200-DMA at 41,925 level. However, any downside will find support at 40,420, followed by 39,946 (30-DMA). The RSI and the MACD are moving up, supporting a positive view. JS Securities Limited recommends investors to...