Karachi, April 25, 2022 (PPI-OT): KSE-100: Hovering near 200-SMA

The index opened on a slightly positive note and remained volatile throughout the last trading session. The Index posted an intraday high of 124pts, a low of 152pts and concluded with a loss of 100pts to settle at 45,553pts level. During the past 10 trading sessions, there have been 3 white candles and 7 black candles for a net of 4 black candles. The local bourse is currently 0.1% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions.

The chart formation depicts that the index may find initial support near 45,400. A break below mentioned support can result into further weakness towards 45,250 and 44,900pts level. Alternatively, the index can face resistance near 45,800pts initially and then head towards 46,100 and 46,400 area. It is recommended to accumulate positions on weakness and trade with a cautious approach while use stop loss during intraday trading.