JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- February 02, 2023 (PPI-OT)

KSE-100; 50-DMA still remains a key hurdle

KSE-100 index witnessed a volatile session to close at 40,620 level, down 53 points DoD. Volumes stood at 131mn shares versus 153mn shares traded previously. The index is currently facing resistance at the 50-DMA that stands at 40,655 where a break above that will target 41,095, followed by the 200-DMA at 41,895 level. However, any downside will find support at 40,611 as any drop below this level will target the 30-DMA at 39,988 points. The indicators are mixed, signalling no clear trading view. JS Securities Limited recommends investors to view...