Karachi, June 15, 2022 (PPI-OT): KSE-100: A volatile session amidst low volumes

The index opened on a slightly negative note and faced a volatile session with a swing move of 458pts. The local bourse posted an intraday high of 236pts, a low of 222pts and concluded with a gain of 175pts to settle at 41,055pts level. The volumes witnessed in the last trading session were lower than the previous trading session. The Index is currently trading with a RSI reading at 34.5. 8.3%. The Index is currently sustaining below its 200-period moving average on daily chart.

The chart formation depicts that the index may find initial support near 40,900. A break below mentioned support can result into further weakness towards 40,700 and 40,400pts 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 trade with a cautious approach and use stop loss during intraday trading.