Karachi, December 28, 2017 (PPI-OT): KSE-100 – Resistance at the 50-DMA
The KSE-100 index extended the gain to close at 40,147, up 621 points. Volumes stood at 199mn shares as compared to 178mn shares traded previously. The index is expected to target the 50-DMA standing at 40,183; where a break above will open the way towards 41,046. However, any downside will find support at the 30-DMA that stands at 39,581. The RSI and the MACD are heading upwards, supporting a positive view. JS Securities Limited recommends investors to stay cautious on the higher side and wait for dips. The support and resistance are at 39,955 and 40,340, respectively.
LUCK – closed above the 30-DMA
Strategy: ‘Buy on dips’ – targeting Rs508.30 and Rs536.30; stoploss at Rs489.15.
PSO – Upside likely
Strategy: ‘Buy on dips’ – targeting Rs302.24 and Rs322.32; stoploss at Rs291.00.