Karachi, May 04, 2021 (PPI-OT): KSE-100; Expected target at the 200-DMA
The KSE-100 index posted a loss of 186 points to close at 44,076. Volumes stood at 238mn shares versus 294mn shares traded previously. The index is likely to revisit 43,630 (yesterday’s low) where a fall below will extend the decline towards 42,877 (200-DMA). However, any upside will face resistance in the range of 44,300-44,710. The RSI and the MACD are heading down, supporting a negative view. JS Securities Limited recommends investors to ‘Sell on Strength’, keeping stoploss above 44,326. The support and resistance are at 43,695 and 44,391, respectively.
OGDC: Slide to continue
Strategy: ‘Sell on Strength’ – targeting Rs88.50 and Rs81.54; stoploss at Rs92.49.
DGKC: Downside target remains intact
Strategy: ‘Sell on Strength’ – targeting Rs106.97 and Rs102.00; stoploss at Rs114.01.