JS Securities Limited – Pakistan Market: Technical Outlook

Karachi, June 29, 2018 (PPI-OT):KSE-100 – limited upside

The KSE-100 index extended the gain to close at 41,998, up 280 points. Volumes stood at 160mn shares as compared to 236mn shares traded previously. The index has formed a higher high and higher low that indicates that recovery trend is likely to continue, however, the 200-DMA will provide resistance at 42,623. Meanwhile, the 30-DMA is likely to cross below the 200-DMA, which is a bearish sign. Investors are recommended to stay sellers below the 200-DMA. The support and resistance are at 41,711 and 42,287, respectively.

MCB – Downside target remains intact

Strategy: ‘Sell on Strength’ – targeting Rs191.20; stoploss at Rs202.69.

DGKC – Recovery to continue

Strategy: ‘Buy on dips’ – targeting Rs123.67; stoploss at Rs112.51.

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JS Securities Limited – Pakistan Market: Technical Outlook

Karachi, June 29, 2018 (PPI-OT):KSE-100 – limited upside

The KSE-100 index extended the gain to close at 41,998, up 280 points. Volumes stood at 160mn shares as compared to 236mn shares traded previously. The index has formed a higher high and higher low that indicates that recovery trend is likely to continue, however, the 200-DMA will provide resistance at 42,623. Meanwhile, the 30-DMA is likely to cross below the 200-DMA, which is a bearish sign. Investors are recommended to stay sellers below the 200-DMA. The support and resistance are at 41,711 and 42,287, respectively.

MCB – Downside target remains intact

Strategy: ‘Sell on Strength’ – targeting Rs191.20; stoploss at Rs202.69.

DGKC – Recovery to continue

Strategy: ‘Buy on dips’ – targeting Rs123.67; stoploss at Rs112.51.

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