JS Securities Limited – Pakistan Market: Technical Outlook (August 15, 2022)
Karachi, August 15, 2022 (PPI-OT): KSE-100; Upside likely
KSE-100 index showed positive movement to close at 42,858 level, up 614 points DoD. Volumes stood at 374mn shares versus 282mn shares traded previously. The index is expected to face resistance in the range of 42,870-42,980 levels where a break above that will target 43,555, followed by 43,959 (200-DMA). However, any downside will find support in the range of 42,660 to 42,440. The RSI and the MACD have moved up, supporting a positive view. JS Securities Limited recommends investors to ‘Buy on dips’, with risk defined below 42,243. The support and resistance are at 42,443 and 43,073, respectively.
ATRL: Upside to continue
Strategy: ‘Buy on dips’ – targeting Rs183.55; stoploss at Rs156.82.
BOP: Limited downside risk
Strategy: ‘Buy on dips’ – targeting Rs6.59 and Rs7.50; stoploss at Rs5.51.