KSE-100 Index Faces Downturn, Technical Analysis Suggests Further Corrections

Karachi, The KSE-100 index experienced a decline, closing down by 159 points at 72,602. Trading volumes increased significantly to 970 million shares, up from the previous session's 622 million shares. Technical forecasts indicate potential resistance at the 73,070 to 73,300 range, while support might solidify between 71,950 and 72,280. Below these levels, a corrective trend towards 71,593 and eventually 70,562 is anticipated.

According to JS Global, the current market indicators present a mixed outlook, leading to a neutral stance overall. Investors are advised to adopt a 'Sell on Strength' strategy, keeping risks in check above the 73,079 mark. Established support and resistance levels are noted at 72,280 and 73,001, respectively.