Karachi, March 11, 2022 (PPI-OT): KSE-100 A robust rally witnessed

The index opened with a bullish bias and remained bullish throughout the last trading session. The local bourse posted a high of 879pts and concluded with a gain of 811pts to settle at pts level. The local bourse gapped up (bullish) on normal volume. It seems like a ‘Runaway Gap’ which usually signifies a continuation of the trend.

The chart formation depicts that the index may find initial support near 43,400. A break below mentioned support can result into further weakness towards 43,150 and 42,850pts level. Alternatively, the index can face resistance near 43,900pts initially and then head towards 44,250 and 44,500 area. It is recommended to accumulate positions on weakness and trade with a cautious approach.