KSE-100 Index Rises Despite Cautious Outlook Noted by Analysts

Karachi, The KSE-100 index demonstrated bullish momentum with a significant rise of 714 points, closing at 73,799. Despite this growth, trading volumes slightly decreased from the previous session, with 722 million shares traded compared to 741 million.

According to JS Global, the KSE-100 index is set to test resistance at 74,114, which was the previous day’s high. If it breaks above this level, the next targets could be 74,347 and potentially 74,994. However, the index might find support between 73,230 and 73,680. A drop below this range could lead to a corrective trend. Notably, a bearish divergence on the Relative Strength Index (RSI) has been observed, prompting JS Global to advise investors to remain cautious. The designated support and resistance levels are at 73,235 and 74,239, respectively.