Karachi, March 18, 2022 (PPI-OT): KSE-100: Lackluster activity witnessed

The index opened on a slightly positive note and a lackluster activity witnessed. The Index posted a high of 219pts, a low of 179pts and concluded with a loss of 168pts to settle at 43,807pts level. The volumes witnessed during the last trading session were lower than the previous trading session. The local bourse is currently trading near the bottom of the declining trend line on daily chart.

The chart formation depicts that the index may find initial support near 43,700. A break below mentioned support can result into further weakness towards 43,500 and 43,300pts level. Alternatively, the index can face resistance near 44,200pts initially and then head towards 44,500 and 44,700 area. It is recommended to accumulate positions on weakness and trade with a cautious approach.