Karachi, April 04, 2022 (PPI-OT): KSE-100: Remains volatile

The index opened on a negative note and remained volatile throughout the last trading session. The Index posted an intraday high of 467, a low of 274pts and concluded with a gain of 223pts to settle at 45,152pts level. The index is currently sustaining above 50-SMA on daily charts and RSI is trading above neutral level. The index could remain under pressure if declines below 44,700.

The chart formation depicts that the index may find initial support near 44,700. A break below mentioned support can result into further weakness towards 44,300 and 43,900pts level. Alternatively, the index can face resistance near 45,400pts initially and then head towards 45,700 and 46,100 area. It is recommended to trade with a cautious approach with risk defined below 44,700.