FLASHNEWS:

JS Securities Limited – Pakistan Market: Technical Outlook (July 13, 2022)

Karachi, July 13, 2022 (PPI-OT): KSE-100; Expected to trade range bound

KSE-100 witnessed a volatile session to close up by 184 points DoD at 41,344. However, volumes remained dull at 99mn shares versus 98mn shares traded previously. The index is likely to re-test resistance at 41,397 where a break above that will target the 30-DMA at 41,819. However, any downside will find support at 41,010 and a drop below this level will expose further weakness towards the key support at 40,600. The indicators are mixed, signaling no clear trading view. JS Securities Limited recommends investors to stay cautious on the higher side and wait for dips. The support and resistance are at 41,104 and 41,490, respectively.

OGDC: Upside likely

Strategy: ‘Buy on dips’ – targeting Rs84.11; stoploss at Rs79.38.

HBL: Recovery expected

Strategy: ‘Buy on dips’ – targeting Rs95.56 and Rs99.18; stoploss at Rs90.11.