JS Securities Limited – Pakistan Market: Technical Outlook

Karachi, July 19, 2018 (PPI-OT):KSE-100 index targeting the 30-DMA at 41,703

The KSE-100 index posted a gain of 965 points to close at 40,898. Volumes improved to 248mn shares from 142mn shares traded a day earlier. The index is expected to target the 30-DMA standing at 41,703, followed by the 200-DMA at 42,466. However, any downside will find support in the range of 40,370-40,605; where a fall below will cause the downtrend to resume. The RSI and the MACD have moved up, suggesting a positive trend ahead. JS Securities Limited recommends investors to ‘Buy on dips’, keeping stoploss below 40,371. The support and resistance are at 40,532 and 41,267, respectively.

SNGP – Recovery to continue

Strategy: ‘Buy on dips’ – targeting Rs97.11; stoploss at Rs85.15.

UBL – Closed above the 30-DMA and the 50-DMA

Strategy: ‘Buy on dips’ – targeting Rs185.98; stoploss at Rs166.50.

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JS Securities Limited – Pakistan Market: Technical Outlook

Karachi, July 19, 2018 (PPI-OT):KSE-100 index targeting the 30-DMA at 41,703

The KSE-100 index posted a gain of 965 points to close at 40,898. Volumes improved to 248mn shares from 142mn shares traded a day earlier. The index is expected to target the 30-DMA standing at 41,703, followed by the 200-DMA at 42,466. However, any downside will find support in the range of 40,370-40,605; where a fall below will cause the downtrend to resume. The RSI and the MACD have moved up, suggesting a positive trend ahead. JS Securities Limited recommends investors to ‘Buy on dips’, keeping stoploss below 40,371. The support and resistance are at 40,532 and 41,267, respectively.

SNGP – Recovery to continue

Strategy: ‘Buy on dips’ – targeting Rs97.11; stoploss at Rs85.15.

UBL – Closed above the 30-DMA and the 50-DMA

Strategy: ‘Buy on dips’ – targeting Rs185.98; stoploss at Rs166.50.

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