JS Securities Limited – Pakistan Market: Technical Outlook
Karachi, January 02, 2018 (PPI-OT):KSE-100; Upside target remains intact at 41,046
Positive movement continued for the KSE-100 index as it closed at 40,711, up 240 points. Volumes stood at 118mn shares versus 241mn shares traded previously. The upside target for the index remains intact at 41,046, with a chance of later extending towards 41,611. However, any downside will find support in the range of 40,345-40,565. Meanwhile, the RSI and the MACD have continued to rise, supporting a positive view. JS Securities Limited recommends investors to view any downside as an opportunity to ‘Buy’, keeping stoploss below 40,345. The support and resistance are at 40,345 and 41,080, respectively.
ATRL – Upside likely
Strategy: ‘Buy on dips’ – targeting Rs265.76; stoploss at Rs229.35.
PPL – Upside target remains intact
Strategy: ‘Buy on dips’ – targeting Rs213.92 and Rs217.32; stoploss at Rs204.50.