Karachi, April 14, 2022 (PPI-OT): KSE-100: Profit taking witnessed

The index opened on a negative note remained volatile throughout the last trading session. The Index posted an intraday low of 345pts, a high of 236pts and concluded with a loss of 242pts to settle at 46,166pts level. The volumes witnessed during the last trading session were comparatively lower than the previous trading session.

The chart formation depicts that the index may find initial support near 46,000. A break below mentioned support can result into further weakness towards 45,800 and 45,500pts level. Alternatively, the index can face resistance near 46,700pts initially and then head towards 46,900 and 47,200 area. It is recommended to accumulate positions on weakness with risk defined below support zone.