JS Securities Limited – Pakistan Market: Technical Outlook

Karachi, June 21, 2018 (PPI-OT):KSE-100 targeting the 200-DMA at 42,613

The KSE-100 index posted a decline of 680 points to close at 43,003. Volumes stood at 136mn shares versus 123mn shares traded previously. The index has dropped below the 30-DMA and is expected to target the 200-DMA that stands at 42,613. However, any upside will face resistance in the range of 43,040-43,310. Meanwhile, the RSI and the Stochastic Oscillator have taken a downturn, supporting a bearish view. JS Securities Limited recommends investors to ‘Sell’ on the higher side, with risk defined above 43,310. The support and resistance are at 42,698 and 43,310, respectively.

NML – Slide to continue

Strategy: ‘Sell on Strength’ – targeting Rs142.47; stoploss at Rs150.32.

LUCK – Downside target remains intact

Strategy: ‘Sell on Strength’ – targeting Rs508.61 and Rs495.39; stoploss at Rs536.99.

You May Also Like

JS Securities Limited – Pakistan Market: Technical Outlook

Karachi, June 21, 2018 (PPI-OT):KSE-100 targeting the 200-DMA at 42,613

The KSE-100 index posted a decline of 680 points to close at 43,003. Volumes stood at 136mn shares versus 123mn shares traded previously. The index has dropped below the 30-DMA and is expected to target the 200-DMA that stands at 42,613. However, any upside will face resistance in the range of 43,040-43,310. Meanwhile, the RSI and the Stochastic Oscillator have taken a downturn, supporting a bearish view. JS Securities Limited recommends investors to ‘Sell’ on the higher side, with risk defined above 43,310. The support and resistance are at 42,698 and 43,310, respectively.

NML – Slide to continue

Strategy: ‘Sell on Strength’ – targeting Rs142.47; stoploss at Rs150.32.

LUCK – Downside target remains intact

Strategy: ‘Sell on Strength’ – targeting Rs508.61 and Rs495.39; stoploss at Rs536.99.

You May Also Like