According to experts and research houses, the KSE-100 bullish momentum halted temporarily – so stay careful and watch whether the index breaks the 47,300 targets or not.

Currently, the index is facing strong resistance of short term trendline at 47,300, and only a break above the said level will continue the bullish momentum.

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.