JS Securities Limited – Pakistan Market: Technical Outlook

Karachi, May 20, 2019 (PPI-OT): KSE-100 – Slide to continue

The KSE-100 index posted a decline of 805 points to close at 33,167. Volumes stood dull at 90mn shares versus 109mn shares traded previously. The index is expected to continue the downtrend with 31,838 as the next target. However, any upside is likely to face resistance in the range of 33,380-33,735. Meanwhile, the RSI and the MACD have moved down, supporting a negative view. Investors are recommended to view any upside as an opportunity to ‘Sell’, with risk defined above 33,731. The support and resistance are at 32,781 and 33,557, respectively.

LOTCHEM: Slide to continue

Strategy: ‘Sell on Strength’ – targeting Rs12.47 and Rs11.90; stoploss at Rs14.20.

LUCK: Downside likely

Strategy: ‘Sell on Strength’ – targeting Rs332.70 and Rs315.00; stoploss at Rs351.50.

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JS Securities Limited – Pakistan Market: Technical Outlook

Karachi, May 20, 2019 (PPI-OT): KSE-100 – Slide to continue

The KSE-100 index posted a decline of 805 points to close at 33,167. Volumes stood dull at 90mn shares versus 109mn shares traded previously. The index is expected to continue the downtrend with 31,838 as the next target. However, any upside is likely to face resistance in the range of 33,380-33,735. Meanwhile, the RSI and the MACD have moved down, supporting a negative view. Investors are recommended to view any upside as an opportunity to ‘Sell’, with risk defined above 33,731. The support and resistance are at 32,781 and 33,557, respectively.

LOTCHEM: Slide to continue

Strategy: ‘Sell on Strength’ – targeting Rs12.47 and Rs11.90; stoploss at Rs14.20.

LUCK: Downside likely

Strategy: ‘Sell on Strength’ – targeting Rs332.70 and Rs315.00; stoploss at Rs351.50.

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JS Securities Limited – Pakistan Market: Technical Outlook

Karachi, May 20, 2019 (PPI-OT): KSE-100 – Slide to continue

The KSE-100 index posted a decline of 805 points to close at 33,167. Volumes stood dull at 90mn shares versus 109mn shares traded previously. The index is expected to continue the downtrend with 31,838 as the next target. However, any upside is likely to face resistance in the range of 33,380-33,735. Meanwhile, the RSI and the MACD have moved down, supporting a negative view. Investors are recommended to view any upside as an opportunity to ‘Sell’, with risk defined above 33,731. The support and resistance are at 32,781 and 33,557, respectively.

LOTCHEM: Slide to continue

Strategy: ‘Sell on Strength’ – targeting Rs12.47 and Rs11.90; stoploss at Rs14.20.

LUCK: Downside likely

Strategy: ‘Sell on Strength’ – targeting Rs332.70 and Rs315.00; stoploss at Rs351.50.

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