Karachi, March 15, 2022 (PPI-OT): KSE-100 Lowest volume since Sep’19

The index opened on a positive note and remained volatile. The Index posted a high of 114pts, a low of 328pts and concluded with a loss of 286pts to settle at 43,367pts level. The volumes (43.17mln) witnessed during the last trading session were the lowest volume since sep’19. Bollinger Bands are 40.71% wider than normal. The large width of the bands suggests high volatility as compared to normal range.

The chart formation depicts that the index may find initial support near 43,300. A break below mentioned support can result into further weakness towards 43,100 and 42,850pts level. Alternatively, the index can face resistance near 43,700pts initially and then head towards 43,900 and 44,200 area. It is recommended to accumulate positions on weakness and trade with a cautious approach.