Karachi, April 15, 2022 (PPI-OT): KSE-100: Faces a highly volatile session

The index opened on a slightly positive note and faced a volatile session. The Index posted an intraday low of 112pts, a high of 345pts and concluded with a gain of 319pts to settle at 46,484pts level. The volumes witnessed during the last trading session were comparatively higher than the previous trading session. Volume indicators reflect moderate flows of volume into the local bourse (mildly bullish). Trend forecasting oscillators are currently bullish on the index and have had this outlook couple of trading sessions.

The chart formation depicts that the index may find initial support near 46,300. A break below mentioned support can result into further weakness towards 46,000 and 45,800pts 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.