Karachi, April 21, 2022 (PPI-OT): KSE-100: Approaching near support zone

The index opened on a positive note and remained volatile throughout last trading session. The Index posted an intraday high of 253pts, a low of 442pts and concluded with a loss of 390pts to settle at 45,943pts level. The volumes witnessed during the last trading session were comparatively lower than the previous trading session. The MACD is bullish since it is trading above its signal line. The MACD crossed its moving average, the local bourse has increased 5.56% and has ranged from a high of 46,970 to a low of 42,936.

The chart formation depicts that the index may find initial support near 45,700. A break below mentioned support can result into further weakness towards 45,500 and 45,200pts level. Alternatively, the index can face resistance near 46,200pts initially and then head towards 46,500 and 46,700 area. It is recommended to accumulate positions on weakness and trade with a cautious approach while use stop loss during intraday trading.