JS Securities Limited – Pakistan Market: Technical Outlook

Karachi, October 05, 2018 (PPI-OT): KSE-100 – Slide to continue

Downward movement continued for the KSE-100 index as it closed at 40,087 (-473 points). Volumes improved to 111mn shares from 90mn shares traded previously. The index is expected to revisit yesterday’s low of 39,994; where a drop below will extend the decline towards 39,767, followed by 39,465. However, any upside will face resistance in the range of 40,225-40,355. The RSI has moved down and the MACD has generated a Sell signal, supporting a bearish view. JS Securities Limited recommends investors to ‘Sell on Strength’, with risk defined above 40,353. The support and resistance are at 39,823 and 40,353, respectively.

MCB – Slide to continue

Strategy: ‘Sell on Strength’ – targeting Rs189.00 and Rs186.33; stoploss at Rs196.12.

MLCF – Bearish crossover

Strategy: ‘Sell on Strength’ – targeting Rs39.00; stoploss at Rs45.65.

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JS Securities Limited – Pakistan Market: Technical Outlook

Karachi, October 05, 2018 (PPI-OT): KSE-100 – Slide to continue

Downward movement continued for the KSE-100 index as it closed at 40,087 (-473 points). Volumes improved to 111mn shares from 90mn shares traded previously. The index is expected to revisit yesterday’s low of 39,994; where a drop below will extend the decline towards 39,767, followed by 39,465. However, any upside will face resistance in the range of 40,225-40,355. The RSI has moved down and the MACD has generated a Sell signal, supporting a bearish view. JS Securities Limited recommends investors to ‘Sell on Strength’, with risk defined above 40,353. The support and resistance are at 39,823 and 40,353, respectively.

MCB – Slide to continue

Strategy: ‘Sell on Strength’ – targeting Rs189.00 and Rs186.33; stoploss at Rs196.12.

MLCF – Bearish crossover

Strategy: ‘Sell on Strength’ – targeting Rs39.00; stoploss at Rs45.65.

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