Karachi, March 30, 2022 (PPI-OT): KSE-100 – Bullish sessions likely to persist

The index opened gapped up and remained bullish throughout the session. The Index an intraday high of 545pts and concluded with a gain of 505pts to settle at 44,439pts level. The index has been forming a higher high for last couple of trading sessions. A rising window candle stick occurred on daily chart which usually implies for a continuation of a bullish trend. RSI is trading in a comfort zone above neutral level.

The chart formation depicts that the index may find initial support near 44,200. A break below mentioned support can result into further weakness towards 43,900 and 43,500pts level. Alternatively, the index can face resistance near 44,700pts initially and then head towards 45,000 and 45,200 area. It is recommended to accumulate positions on weakness and trade with a cautious approach.