Karachi, December 01, 2022 (PPI-OT): KSE-100; Consolidation expected above the 30-DMA

KSE-100 index witnessed a volatile session to close in at 42,349 level, down 25 points. Volumes stood at 120mn shares versus 139mn shares traded previously. The index is trading above the 30-DMA that will restrict downside at 42,335, followed by the 50-DMA at 42,025 points whereas a break above 42,516 (yesterday’s high) will continue the upward move towards the 200-DMA at 42,806 level. JS Securities Limited recommends investors to ‘Buy’ at lower levels, with risk defined below the 50-DMA. The support and resistance are at 42,243 and 42,485 points, respectively.

PSO: Upside likely

Strategy: ‘Buy on dips’ – targeting Rs155.20 and Rs166.62; stoploss at Rs148.50.

ATRL: Slide to continue

Strategy: ‘Sell on Strength’ – targeting Rs162.28 and Rs152.22; stoploss at Rs169.61.