JS Securities Limited – Pakistan Market: Technical Outlook

Karachi, October 15, 2018 (PPI-OT): Bullish divergence on RSI

The KSE-100 index posted a loss of 880 points to close at 37,518. Volumes stood flat at 135mn shares. The index is expected to revisit Friday’s low of 37,405; where a drop below will extend the decline towards 36,622, followed by 35,423. However, any upside will face resistance in the range of 37,780-38,115. The MACD has moved down, while a bullish divergence has been created on the RSI, signalling no clear trading view. We recommend investors to stay cautious on the higher side and wait for dips. The support and resistance are at 37,111 and 37,929, respectively.

ATRL: Recovery target remains intact

Strategy: Buy on dips’ – targeting Rs137.93 and Rs144.63; stoploss at Rs123.99.

UBL – Recovery likely

Strategy: ‘Buy on dips’ – targeting Rs152.11; stoploss at Rs132.75.

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JS Securities Limited – Pakistan Market: Technical Outlook

Karachi, October 15, 2018 (PPI-OT): Bullish divergence on RSI

The KSE-100 index posted a loss of 880 points to close at 37,518. Volumes stood flat at 135mn shares. The index is expected to revisit Friday’s low of 37,405; where a drop below will extend the decline towards 36,622, followed by 35,423. However, any upside will face resistance in the range of 37,780-38,115. The MACD has moved down, while a bullish divergence has been created on the RSI, signalling no clear trading view. We recommend investors to stay cautious on the higher side and wait for dips. The support and resistance are at 37,111 and 37,929, respectively.

ATRL: Recovery target remains intact

Strategy: Buy on dips’ – targeting Rs137.93 and Rs144.63; stoploss at Rs123.99.

UBL – Recovery likely

Strategy: ‘Buy on dips’ – targeting Rs152.11; stoploss at Rs132.75.

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