JS Securities Limited – Pakistan Market: Technical Outlook (04-11-2019)

Karachi, November 04, 2019 (PPI-OT): KSE-100; Upside target remains intact

The KSE-100 index extended the gain to close at 34,378, up 174 points. Volumes stood at 157mn shares versus 184mn shares traded previously. The index is likely to continue the uptrend with 34,697 and 35,392 in sight. However, any downside will find support in the range of 34,165-34,325. The RSI and the MACD are rising, supporting a positive view. JS Securities Limited recommends investors to ‘Buy on dips’, with risk defined below 34,108. The support and resistance are at 34,169 and 34,588, respectively.

LUCK: Upside to continue

Strategy: ‘Buy on dips’ – targeting Rs374.75 and Rs395.00; stoploss at Rs349.60.

HUBC: Upside likely

Strategy: ‘Buy on dips’ – targeting Rs77.59; stoploss at Rs72.96.

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