KSE100 Index morning Brief 29th Nov. 2023

The Benchmark KSE100 index is moving inside a bullish price channel on monthly chart, tomorrow being last trading day of Nov. 2023 is important day as it would play a key role in setting next targets for Index.
On Intraday Basis KSE100 index would try to target 60,850pts, 61,100pts and 61,350pts while 61550pts would try to as key resistance. If index would face rejection from any of these levels and could not succeed in closing above 61,350pts on daily basis, then it would face some serious pressure in coming days and would remain shaky. While initial key support on intraday basis would be 60,300pts and secondary one would be 60,065pts.
On longer run next targets for index are 63,377pts where it’s being capped by resistant trend line of its bullish price channel along with expansion level of its previous correction and breakout above this region would call for 75,000pts.