KSE-100_Remains bullish; upside likely, (AKD Technical Daily Jun 17, 2022)
AKD Daily
KSE-100: Remains bullish; upside likely
- The index opened on a slightly positive note and faced a volatile session. The local bourse posted an intraday high of 325pts, a low of 116pts and concluded with a gain of 291pts to settle at 41,730pts level. The volumes witnessed in the last trading session were higher than the previous trading session. The index has been closing with a positive bias for the last three consecutive trading sessions. Short term charts suggest that the index could continue its upward ride.
- The chart formation depicts that the index may find initial support near 41,500. A break below mentioned support can result into further weakness towards 41,300 and 40,900pts level. Alternatively, the index can face resistance near 42,000pts initially and then head towards 42,300 and 42,700 area. It is recommended to trade with a cautious approach and use stop loss during intraday trading.
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