Karachi, April 02, 2021 (PPI-OT): KSE-100; Slide to continue
The KSE-100 index posted a loss of 160 points to close at 44,428. Volumes stood at 314mn shares versus 444mn shares traded previously. The index is expected to re-test support at 44,334 where a fall below will target 43,953, followed by 42,688. However, any upside will face resistance in the range of 44,540-44,760, followed by the 30-DMA at 45,146. The RSI and the MACD are moving down, supporting a negative view. Investors are recommended to ‘Sell’ on the higher side, with risk defined above the 30-DMA. The support and resistance are at 44,216 and 44,759, respectively.
DGKC: Slide to continue
Strategy: ‘Sell on Strength’ – targeting Rs110.83; stoploss at Rs121.00.
ISL: Downside target remains intact
Strategy: ‘Sell on Strength’ – targeting Rs78.30; stoploss at Rs86.00.