JS Securities Limited – Pakistan Market: Technical Outlook

Karachi, November 06, 2018 (PPI-OT): KSE-100 – Consolidation expected; ‘wait for dips’

The KSE-100 index showed negative movement to close at 41,494, down 510 points. Volumes stood at 214mn shares versus 292mn shares traded previously. The index is expected to re-test support at 41,034 (yesterday’s low); where a drop below will target the 50-DMA at 40,366. However, any upside will find resistance at 42,004; where a break above will target 42,624 (200-DMA). The RSI has moved down, while the MACD is heading up, signalling no clear trading view. JS Securities Limited recommends investors to stay cautious on the higher side and wait for dips. The support and resistance are at 40,982 and 42,012, respectively.

PPL: Slide to continue

Strategy: ‘Sell on Strength’ – targeting Rs169.01; stoploss at Rs181.05.

DGKC: Corrective trend ahead

Strategy: ‘Sell on Strength’ – targeting Rs99.80; stoploss at Rs109.00.

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JS Securities Limited – Pakistan Market: Technical Outlook

Karachi, November 06, 2018 (PPI-OT): KSE-100 – Consolidation expected; ‘wait for dips’

The KSE-100 index showed negative movement to close at 41,494, down 510 points. Volumes stood at 214mn shares versus 292mn shares traded previously. The index is expected to re-test support at 41,034 (yesterday’s low); where a drop below will target the 50-DMA at 40,366. However, any upside will find resistance at 42,004; where a break above will target 42,624 (200-DMA). The RSI has moved down, while the MACD is heading up, signalling no clear trading view. JS Securities Limited recommends investors to stay cautious on the higher side and wait for dips. The support and resistance are at 40,982 and 42,012, respectively.

PPL: Slide to continue

Strategy: ‘Sell on Strength’ – targeting Rs169.01; stoploss at Rs181.05.

DGKC: Corrective trend ahead

Strategy: ‘Sell on Strength’ – targeting Rs99.80; stoploss at Rs109.00.

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