JS Securities Limited – Pakistan Market: Technical Outlook (10-03-2020)Karachi, March 10, 2020 (PPI-OT): KSE-100 likely to re-test support at the 200-DMA The KSE-100 index, after making a low of 35,917, recovered to close at 37,059, down 1,161 points. Volumes improved to 308mn shares as compared to 244mn shares traded previously. The index is expected to re-test support at the 200-DMA standing at 36,085 where a fall below will extend the decline towards 35,096. However, any upside will face resistance in the range of 37,065-38,220. The RSI and the MACD are moving down, supporting a bearish view. JS Securities Limited recommends investors to ‘Sell’ on the higher side, with risk defined above 38,220. The support and resistance are at 35,841 and 38,319, respectively. OGDC: Slide to continue Strategy: ‘Sell on Strength’ – targeting Rs101.10; stoploss at Rs115.67. LUCK: Upside likely Strategy: ‘Buy on dips’ – targeting Rs580.68 and Rs595.74; stoploss at Rs496.00.

Karachi, March 10, 2020 (PPI-OT): KSE-100 likely to re-test support at the 200-DMA

The KSE-100 index, after making a low of 35,917, recovered to close at 37,059, down 1,161 points. Volumes improved to 308mn shares …

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