Karachi, February 13, 2023 (PPI-OT): KSE-100: Volatile session amidst good volumes

The index opened on negative note and faced a volatile sessions. The local bourse posted an intraday high of 86pts, a low of 804pts and concluded with a loss of 725pts to settle at 41,724pts. The volumes clocked in the last trading session were slightly lower than the previous trading session. The Index closed below the upper band by 17.8%. Bollinger Bands are 66.22% wider than normal. The large width of the bands suggest high volatility as compared to the Index’s normal range. During the past 10 trading sessions, there have been 6 white candles and 4 black candles for a net of 2 white candles.

The chart formation depicts that the index may find initial support near 41,600. A break below mentioned support can result into further weakness towards 41,400 and 41,100pts level. Alternatively, the index can face resistance near 42,200pts initially and then head towards 42,500 and 42,800 area. It is recommended to trade with a cautious approach.