Karachi, January 26, 2022 (PPI-OT): KSE-100: Volatile session amidst marginal loss

The index opened with a positive bias and faced a volatile session amidst low volumes. The local bourse posted a low of 78pts, a high of 332pts while concluded with a marginal loss of 36pts to settle at 44,888pts level. The trading volumes increased by 10% DoD. During the past 10 trading sessions, there have been 2 white candles and 8 black candles for a net of 6 black candles.

The chart formation depicts that the index may find initial support near 44,800. A break below mentioned support can result into further weakness towards 44,550 and 44,250pts level. Alternatively, the index can face resistance near 45,200pts initially and then head towards 45,400 and 45,800 area. It is recommended to trade with a cautious approach and use stop loss during intraday trading.