JS Securities Limited - Pakistan Market: Technical Outlook.

Karachi -- March 03, 2023 (PPI-OT)

KSE-100; Range bound activity expected

KSE-100 index posted a gain of 258 points to close at 40,671. Volumes stood at 152mn shares versus 167mn shares traded previously. The index has closed above the 50-DMA and is likely to re-test resistance at the 30-DMA that currently stands at 40,704 level where a break above that will target 41,504 (200-DMA). However, any downside will find support in the range of 40,350-40,460 where a fall below these levels will drag the index down to 39,840-40,040 range. The indicators are mixed, signalling no clear trading view. Investors are recommended to...