FLASHNEWS:

JS Securities Limited – Pakistan Market: Technical Outlook (January 06, 2022)

Karachi, January 06, 2022 (PPI-OT): KSE-100; Consolidation expected above the 50-DMA

The KSE-100 index witnessed a range bound activity to close at 45,408 level, gaining 17 points DoD. Volumes stood high at 432mn shares versus 376mn shares traded previously. The index is trading above the 50-DMA that will restrict downside at 45,010 where a fall below that level will target the 30-DMA at 44,143. However, a break above yesterday’s high will extend the gain in the range of 45,750-46,000. The RSI and the MACD are on a rising trend, supporting a positive view. JS Securities Limited recommends investors to ‘Buy’ at lower levels, with risk defined below the 50-DMA. The support and resistance are at 45,287 and 45,484, respectively.

PSO: Trading above the 50-DMA

Strategy: ‘Buy on dips’ – targeting Rs198.9; stoploss at Rs181.4.

ISL: Upside target remains intact

Strategy: ‘Buy on dips’ – targeting Rs76.5 and Rs83.8; stoploss at Rs70.3.