Karachi, August 18, 2017 (PPI-OT): KSE-100 – Downside likely; ‘Sell on Strength’
The KSE-100 index ended the session lower at 43,136, down 1,051 points. Volumes stood at 167mn shares as compared to 187mn shares traded previously. The index is expected to re-test support at yesterday’s low of 43,044; where a fall below will lead to further decline towards 42,379, which could later extend to 41,231. However, any upside will face resistance in the range of 43,475-43,605. The RSI and the MACD have moved down, supporting a bearish view. JS Securities Limited recommends investors to view any upside as an opportunity to ‘Sell’, with risk defined above 43,601. The support and resistance are at 42,676 and 43,601, respectively.
NML – Slide to continue
Strategy: ‘Sell on Strength’ – targeting Rs141.80 and Rs135.50; stoploss at Rs152.01.
ATRL – Downside target remains intact
Strategy: ‘Sell on Strength’ – targeting Rs324.85; stoploss at Rs360.00.