Karachi, July 13, 2022 (PPI-OT): KSE-100 – Volatile session could be expected

The index opened on a positive note and a lackluster activity witnessed. The local bourse posted an intraday high of 237pts, a low of 151pts to settle at 41,344 pts level with a gain of 184pts. The volumes witnessed in the last trading session were comparatively higher than the previous trading session. The index is currently trading below its minor moving averages on daily chart. RSI (Relative Strength Index) is currently sustaining below the neutral mark. Volume indicators reflect moderate flows of volume into the local bourse which is mildly bullish.

The chart formation depicts that the index may find initial support near 41,200. A break below mentioned support can result into further weakness towards 40,800 and 40,500pts level. Alternatively, the index can face resistance near 41,500pts initially and then head towards 41,800 and 42,100 area. It is recommended to accumulate positions on weakness with risk defined below support zone.