Karachi, February 20, 2023 (PPI-OT): KSE-100: Range bound activity amid low volumes

The index opened on a flat note and range bound activity witnessed amidst low volumes. The local bourse posted an intraday high of 135pts, a low of 114pts and concluded with a gain of 40pts to settle at 41,119pts. The volumes clocked in the last trading session were comparatively lower than the previous trading session. The Index is currently sustaining below its 200-SMA (Simple Moving Average) on daily time frame chart. Daily parabolic SAR (Stop and Reverse) is currently appearing above the current level of the Index.

The chart formation depicts that the index may find initial support near 40,800. A break below mentioned support can result into further weakness towards 40,500 and 40,100pts level. Alternatively, the index can face resistance near 41,550pts initially and then head towards 41,800 and 42,100 area. It is recommended to trade with a cautious approach.