Karachi, June 13, 2022 (PPI-OT): KSE-100: Low volumes witnessed

The index opened on a slightly positive note and faced a bullish session. The local bourse posted an intraday high of 340pts and concluded with a gain of 279pts to settle at 42,015pts level. The volumes witnessed in the last trading session were lower than the previous trading session. The Index is currently trading below minor moving averages on daily chart. Daily parabolic SAR (Stop and Reverse) is currently appearing below the current level of the index.

The chart formation depicts that the index may find initial support near 41,700. A break below mentioned support can result into further weakness towards 41,400 and 41,000pts level. Alternatively, the index can face resistance near 42,300pts initially and then head towards 42,700 and 43,100 area. It is recommended to trade with a cautious approach and use stop loss during intraday trading.