Karachi, January 05, 2022 (PPI-OT): KSE-100 index closed above the 50-DMA; ‘Positive’

Bullish momentum continued as the KSE-100 index gained 504 points to close at the 45,391 level. Volumes stood at 376mn shares versus 195mn shares traded previously. The index closed above the 50-DMA indicating potential further upside. Next target will be in the range of 45,750-46,000. However, any downside will find support at the 50-DMA that is currently at 45,017 level. The RSI and the MACD are on a rising trend, supporting a positive view. JS Securities Limited recommends investors to ‘Buy’ at lower levels, keeping stoploss below the 50-DMA. The support and resistance are at 45,050 and 45,569, respectively.

DGKC: Upside target remains intact

Strategy: ‘Buy on dips’ – targeting Rs86.5 and Rs98.4; stoploss at Rs81.8.

ISL: Upside to continue

Strategy: ‘Buy on dips’ – targeting Rs76.5 and Rs83.8; stoploss at Rs70.5.