Karachi, January 04, 2022 (PPI-OT): KSE-100 expected to target the 50-DMA at 45,014

The KSE-100 index extended the gain to close at 44,887, gaining 291 points. Volumes stood at 195mn shares versus 318mn shares traded previously. The index is expected to target the 50-DMA that is currently at 45,014 where a break above will target the 200-DMA at 45,975 level. However, any downside will find support in the range of 44,620-44,770. The RSI and the MACD have continued to rise, supporting a positive view. Investors are recommended to view any downside as an opportunity to ‘Buy’, with risk defined below 44,510. The support and resistance are at 44,629 and 45,025, respectively.

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