JS Securities Limited – Pakistan Market: Technical Outlook

Karachi, June 13, 2018 (PPI-OT):KSE-100 index targeting the 200-DMA at 42,579

The KSE-100 index resumed the downtrend to close at 43,229, a loss of 702 points. Volumes stood at 138mn shares versus 160mn shares traded previously. The index has dropped below the 30-DMA indicating potential for further downside. Meanwhile, a fall below 43,143 will extend the decline towards the 200-DMA at 42,579, followed by 41,458. However, any upside will face resistance in the range of 43,445-43,555. The RSI has moved down and the Stochastic Oscillator has generated a Sell signal, supporting a bearish view. JS Securities Limited recommends investors to ‘Sell’ on the higher side, with risk defined above 43,968. The support and resistance are at 42,906 and 43,554, respectively.

DGKC – Slide to continue

Strategy: ‘Sell on Strength’ – targeting Rs110.68; stoploss at Rs124.90.

NCL – Restricted upside

Strategy: ‘Sell on Strength’ – targeting Rs46.72 and Rs43.06; stoploss at Rs51.21.

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JS Securities Limited – Pakistan Market: Technical Outlook

Karachi, June 13, 2018 (PPI-OT):KSE-100 index targeting the 200-DMA at 42,579

The KSE-100 index resumed the downtrend to close at 43,229, a loss of 702 points. Volumes stood at 138mn shares versus 160mn shares traded previously. The index has dropped below the 30-DMA indicating potential for further downside. Meanwhile, a fall below 43,143 will extend the decline towards the 200-DMA at 42,579, followed by 41,458. However, any upside will face resistance in the range of 43,445-43,555. The RSI has moved down and the Stochastic Oscillator has generated a Sell signal, supporting a bearish view. JS Securities Limited recommends investors to ‘Sell’ on the higher side, with risk defined above 43,968. The support and resistance are at 42,906 and 43,554, respectively.

DGKC – Slide to continue

Strategy: ‘Sell on Strength’ – targeting Rs110.68; stoploss at Rs124.90.

NCL – Restricted upside

Strategy: ‘Sell on Strength’ – targeting Rs46.72 and Rs43.06; stoploss at Rs51.21.

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JS Securities Limited – Pakistan Market: Technical Outlook

Karachi, June 13, 2018 (PPI-OT):KSE-100 index targeting the 200-DMA at 42,579

The KSE-100 index resumed the downtrend to close at 43,229, a loss of 702 points. Volumes stood at 138mn shares versus 160mn shares traded previously. The index has dropped below the 30-DMA indicating potential for further downside. Meanwhile, a fall below 43,143 will extend the decline towards the 200-DMA at 42,579, followed by 41,458. However, any upside will face resistance in the range of 43,445-43,555. The RSI has moved down and the Stochastic Oscillator has generated a Sell signal, supporting a bearish view. JS Securities Limited recommends investors to ‘Sell’ on the higher side, with risk defined above 43,968. The support and resistance are at 42,906 and 43,554, respectively.

DGKC – Slide to continue

Strategy: ‘Sell on Strength’ – targeting Rs110.68; stoploss at Rs124.90.

NCL – Restricted upside

Strategy: ‘Sell on Strength’ – targeting Rs46.72 and Rs43.06; stoploss at Rs51.21.

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