KSE 100 hanged in a narrow range

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source: pixabay.com
  • The index remained volatile throughout the last trading session, with a traded volume of 67.53mn shares
  • Index suffering from Lack of Direction

KSE 100 is caught up in a narrow range as Investor participation remain low. Average Volume of KSE-100 for the ongoing week stands at 57 million shares only depicting thin participation.

Investors are concerned over rising inflation and high fiscal deficit which is expected to result in monetary tightening in near future. Furthermore, delay in obtaining IMF bailout package, below expected result season and lack of tangible triggers is keeping investors away.

Technical Indicators

Technical chart formation shows that the initial support for the Index can be found near 38,800. A break below this support level could drag the
index towards 38,400.

On the other hand, the index has resistance near 39,300. A
break above this level could lead the index towards 39,600. The relative Strenght Index (RSI) of KSE-100 stands at 38.6.

This is not a Buy Call nor a recommendation. Please consult your financial advisor for taking any risk in the market. The Mint PK is an Information Portal only. We are not Financial Advisors.

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