Pakistan stock: The bullish momentum of the KSE-100 has momentarily stalled, according to experts and research houses, so keep an eye on whether the index breaches the 47,300 goals or not. The index is currently encountering heavy resistance from a short-term trendline above 47,300, and only a break above this level will keep the positive momentum going.
Meanwhile, a drop below the level of 46,900 will opt for a short correction towards 46,200. The overall trend still appears to be positive, and we foresee the index in a target range of 47,900 – 48,150 that could further be extended to its all-time high level of 52k.
The bullish rally seems to be temporarily halted; we believe any positive closing above the level of 47,300 will cause the uptrend to resume. Therefore, it is suggested to stay careful at the current status and accumulate in the range of 46,200 -46,400.