Karachi, November 16, 2018 (PPI-OT): KSE-100; Upside likely
The KSE-100 index showed positive movement to close at 41,429, up 435 points. Volumes stood flat at 255mn shares. If the gain continues, the likely target will be at the 200-DMA that is standing at 42,536. However, any downside will find support in the range of 41,105-41,285. Meanwhile, the RSI and the Stochastic Oscillator are heading up, supporting a positive view. JS Securities Limited recommends investors to ‘Buy’ at lower levels, keeping stoploss below 41,105. The support and resistance are at 41,204 and 41,654, respectively.
ICI: Upside likely
Strategy: ‘Buy on dips’ – targeting Rs683.46; stoploss at Rs640.00.
SNGP: Upside to continue
Strategy: ‘Buy on dips’ – targeting Rs101.52; stoploss at Rs87.12.