Karachi, November 25, 2022 (PPI-OT): KSE-100: Lackluster activity

The index opened on a positive note and continued to trade in a narrow range. The local bourse posted an intraday high of 134pts, a low of 15pts and concluded with a gain of 23pts to settle at 42,904pts. The volumes clocked in the last trading session were slightly higher than the previous trading session. The Index is currently 0.1% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last ten trading sessions.

The chart formation depicts that the index may find initial support near 42,600. A break below mentioned support can result into further weakness towards 42,450 and 42,200pts level. Alternatively, the index can face resistance near 43,200pts initially and then head towards 43,500 and 43,700 area. It is recommended to trade with a cautious approach.