Karachi, November 01, 2019 (PPI-OT): KSE-100; Upside to continue with 34,697 in sight
The KSE-100 index showed positive movement to close at 34,204, up 442 points. Volumes stood at 184mn shares versus 130mn shares traded previously. If the gain continues, the likely target will be at 34,697, with a chance of later extending towards the 200-DMA at 35,416. However, any downside will find support in the range of 33,975-34,090 where a fall below will target the 30-DMA at 33,182. The RSI and the MACD have moved up, supporting a positive view. JS Securities Limited recommends investors to ‘Buy on dips’, with risk defined below 33,976. The support and resistance are at 33,976 and 34,432, respectively.
ATRL: Upside to continue
Strategy: ‘Buy on dips’ – targeting Rs94.69; stoploss at Rs87.00.
PPL: Upside likely
Strategy: ‘Buy on dips’ – targeting Rs122.22 and Rs125.70; stoploss at Rs112.26.