Karachi, December 09, 2022 (PPI-OT): KSE-100: Low volumes witnessed

The index opened on a slightly positive note and faced a volatile session amidst low volumes. The local bourse posted an intraday high of 108pts, a low of 220pts and concluded with a loss of 168pts to settle at 41,652pts. The volumes clocked in the last trading session were comparatively lower than the previous trading session. The index has been extending highs for the last three consecutive trading sessions. Among the strength indicators, RSI (Relative Strength Index) is currently trading at a level of 39.96. Daily parabolic SAR is currently appearing above the current level of the Index.

The chart formation depicts that the index may find initial support near 41,500. A break below mentioned support can result into further weakness towards 41,300 and 41,100pts level. Alternatively, the index can face resistance near 41,900pts initially and then head towards 42,200 and 42,500 area. It is recommended to trade with a cautious approach.