Karachi, May 26, 2023 (PPI-OT): KSE-100; Expected to trade range bound

KSE-100 index after making a high of 41,219 slid to close at 41,030, down 88 points DoD. Volumes stood at 124mn shares versus 101mn shares traded previously. The index is trading above the 50-DMA that will restrict downside at 40,967, though any fall below that will extend the decline towards 40,777. Meanwhile, any upside will face resistance at the 30-DMA that is currently at 41,162, followed by the 200-DMA at 41,358 level. Investors are recommended to stay cautious on the higher side and wait for dips. The support and resistance are at 40,918 and 41,180 points, respectively.

PPL: Recovery to continue

Strategy: 'Buy on dips' - targeting Rs60.63 and Rs62.25; stoploss at Rs58.20.

DGKC: Limited downside risk

Strategy: 'Buy on dips' - targeting Rs49.10 and Rs50.39; stoploss at Rs46.18.