KSE-100 closed on a negative note, touched 38.2 Fibonacci level, intraday high of 45,101.36 gained 56.86 pts but
declined back to intraday low of 44,593.75 lost 450.75 pts. It closed lower at 44,666.57 with a loss of 377.93 pts.
Index volume rose from the last close. Mixed performance has seen in market today.
Technical Level of KSE-100
RSI broke oversold bearish divergence of 33.5 and closed at 34.32. Aside, 100-day moving average is unchanged
closed at 47,058.47.
Outlook and Recommendation
We expect the index will retest the supporting trend line at 44,400 and change trend to bullish state towards
45,000-47,000 range.
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