Karachi, April 06, 2022 (PPI-OT): KSE-100: Marginally positive amidst low volumes

The index opened with negative bias and faced a volatile session. The Index posted an intraday high of 388pts, a low of 120pts and concluded with a gain of 26pts to settle at 43,928pts level. The volumes witnessed during the last trading session were comparatively lower than the previous trading session. The index is currently 3.8% below its 200-day moving average 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 43,400 and 43,100pts level. Alternatively, the index can face resistance near 44,200pts initially and then head towards 44,450 and 44,650 area. It is recommended to trade with a cautious approach.