Karachi, August 10, 2018 (PPI-OT):KSE-100; Upside likely with 43,639 in sight
The KSE-100 index closed the session higher at 42,924 (+192 points). Volumes stood at 206mn shares versus 191mn shares traded previously. The index is expected to revisit yesterday’s high of 42,961;where a break above will target 43,639, with a chance of later extending towards 44,346. However, any downside will find support at the 200-DMA that is standing at 42,572. The RSI and the MACD havemoved up, supporting a positive view. Investors are recommended to view any downside as anopportunity to ‘Buy’, with risk defined below the 200-DMA. The support and resistance are at 42,802and 43,046, respectively.
NML – Closed above the 50-DMA
Strategy: ‘Buy on dips’ – targeting Rs149.08; stoploss at Rs139.10.
SNGP – Upside to continue
Strategy: ‘Buy on dips’ – targeting Rs107.53; stoploss at Rs99.30.