JS Securities Limited – Pakistan Market: Technical Outlook

Karachi, June 19, 2018 (PPI-OT):KSE-100 – Resistance at the 50-DMA

The KSE-100 index extended the gain to close at 43,681, up 173 points. Volumes stood at 118mn shares as compared to 112mn shares traded previously. The index is expected to target the 50-DMA at 44,230; where a break above is needed to refresh upward momentum. However, any downside will find support at 43,459, followed by 43,133 (30-DMA). The RSI has improved, while the Stochastic Oscillator is heading down, supporting a neutral view. JS Securities Limited recommends investors to ‘Sell on Strength’, with risk defined above the 50-DMA. The support and resistance are at 43,546 and 43,816, respectively.

PPL – Upside likely

Strategy: ‘Buy on dips’ – targeting Rs228.77 and Rs234.50; stoploss at Rs214.00.

ENGRO – Upside to continue

Strategy: ‘Buy on dips’ – targeting Rs326.05 and Rs341.73; stoploss at Rs317.50.

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JS Securities Limited – Pakistan Market: Technical Outlook

Karachi, June 19, 2018 (PPI-OT):KSE-100 – Resistance at the 50-DMA

The KSE-100 index extended the gain to close at 43,681, up 173 points. Volumes stood at 118mn shares as compared to 112mn shares traded previously. The index is expected to target the 50-DMA at 44,230; where a break above is needed to refresh upward momentum. However, any downside will find support at 43,459, followed by 43,133 (30-DMA). The RSI has improved, while the Stochastic Oscillator is heading down, supporting a neutral view. JS Securities Limited recommends investors to ‘Sell on Strength’, with risk defined above the 50-DMA. The support and resistance are at 43,546 and 43,816, respectively.

PPL – Upside likely

Strategy: ‘Buy on dips’ – targeting Rs228.77 and Rs234.50; stoploss at Rs214.00.

ENGRO – Upside to continue

Strategy: ‘Buy on dips’ – targeting Rs326.05 and Rs341.73; stoploss at Rs317.50.

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JS Securities Limited – Pakistan Market: Technical Outlook

Karachi, June 19, 2018 (PPI-OT):KSE-100 – Resistance at the 50-DMA

The KSE-100 index extended the gain to close at 43,681, up 173 points. Volumes stood at 118mn shares as compared to 112mn shares traded previously. The index is expected to target the 50-DMA at 44,230; where a break above is needed to refresh upward momentum. However, any downside will find support at 43,459, followed by 43,133 (30-DMA). The RSI has improved, while the Stochastic Oscillator is heading down, supporting a neutral view. JS Securities Limited recommends investors to ‘Sell on Strength’, with risk defined above the 50-DMA. The support and resistance are at 43,546 and 43,816, respectively.

PPL – Upside likely

Strategy: ‘Buy on dips’ – targeting Rs228.77 and Rs234.50; stoploss at Rs214.00.

ENGRO – Upside to continue

Strategy: ‘Buy on dips’ – targeting Rs326.05 and Rs341.73; stoploss at Rs317.50.

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