Karachi, January 04, 2019 (PPI-OT): KSE-100 – Downside likely
The KSE-100 index posted a loss of 253 points to close at 37,542. Volumes stood dull at 68mn shares versus 134mn shares traded previously. The index is expected to target in the range of 36,270-36,805; where a drop below will extend the decline towards 34,865. However, any upside will face resistance in the range of 37,610-37,930; where a break above will target the 30-DMA at 38,872. The indicators are mixed, signalling no clear trading view. JS Securities Limited recommends investors to ‘Sell’ below 37,374. The support and resistance are at 37,240 and 37,846, respectively.
PSO: Slide to continue
Strategy: ‘Sell on Strength’ – targeting Rs225.00 and Rs216.98; stoploss at Rs232.00.
LUCK: Downside target remains intact
Strategy: ‘Sell on Strength’ – targeting Rs425.03 and Rs412.22; stoploss at Rs445.89.