KSE-100 Index Shows Volatility, Expected to Trade Within Range

Islamabad, The KSE-100 index, a benchmark for the Pakistan stock market, experienced a volatile trading session, closing at 63,219, marking a decrease of 87 points from the day before. Trading volumes were recorded at 410 million shares, compared to 453 million shares in the previous session. The index's performance suggests a range-bound trading scenario, with specific support and resistance levels identified that could influence future market movements.

According to JS Global, the KSE-100 index is currently trading above both the 50-day moving average (DMA) and the 30-DMA, indicating that these levels, at 63,025 and 62,711 respectively, will serve as critical support points restricting further downside. Conversely, any upward movement in the index is likely to encounter resistance at 63,622, with a potential breakout targeting the 64,197 level. The report's analysis of technical indicators such as the Relative Strength Index (RSI), which has moved down, and the Moving Average Convergence Divergence (MACD), which is trending upwards, suggests a lack of a clear direction in the market, making it challenging to predict short-term movements.

JS Global recommends investors to view any downward trends as buying opportunities, with a cautious approach to maintain risk below the 30-DMA level. The identified support and resistance levels stand at 62,975 and 63,542, respectively, offering insights into potential pivot points for traders and investors to monitor closely in the coming sessions.