Karachi, January 03, 2023 (PPI-OT): KSE-100; Expected target at the 30-DMA

KSE-100 index witnessed another positive session to close at 40,816, up 395 points DoD. Volumes stood at 242mn shares versus 285mn shares traded previously. The index is likely to revisit yesterday’s high of 41,028 where a break above that will target the 30-DMA at 41,289, followed by 50-DMA at 41,674. However, any downside will find support in the range of 40,430-40,730 points. The RSI and the MACD have continued to rise, supporting a positive view. JS Securities Limited recommends investors to view any downside as an opportunity to ‘Buy’, keeping stop-loss below 40,349. The support and resistance are at 40,434 and 41,113 points, respectively.

SNGP: Limited downside risk

Strategy: ‘Buy on dips’ – targeting Rs41.50 and Rs44.17; stoploss at Rs37.38.

BOP: Upside likely

Strategy: ‘Buy on dips’ – targeting Rs4.98 and Rs5.12; stoploss at Rs4.55.