Karachi, March 28, 2022 (PPI-OT): KSE-100: Inches up amidst low volumes

The index opened on a slightly positive note and faced a volatile session. The Index made a swing of 311pts, a high of 164pts, a low of 147pts and concluded with a marginal gain of 29pts to settle at 43,551pts level. The index is currently 4.9% below its 200-period moving average. Volatility is extremely low when compared to the average volatility over the last 10 periods.

The chart formation depicts that the index may find initial support near 43,300. A break below mentioned support can result into further weakness towards 43,000 and 42,700pts level. Alternatively, the index can face resistance near 43,700pts initially and then head towards 43,950 and 44,200 area. It is recommended to accumulate positions on weakness and trade with a cautious approach.