Karachi, November 01, 2021 (PPI-OT): KSE-100; 200-DMA breakout expected

The KSE-100 index showed positive movement and closed at 46,185 (+199 points). Volumes stood at 270mn shares versus 230mn shares traded previously. The index is expected to re-test resistance at 46,199 (200-DMA) and a break above that level will confirm the start of a new positive trend with next target at 47,387 levels. However, immediate support lies in the range of 45,810-46,055. The RSI and the MACD are also moving up, supporting a positive view. JS Securities Limited recommends investors to ‘Buy’, keeping stoploss below 45,680. The support and resistance are at 45,814 and 46,424 points, respectively.

HCAR: Upside target remains intact

Strategy: ‘Buy on dips’ – targeting Rs249.82; stoploss at Rs225.50.

MLCF: Closed above the 50-DMA

Strategy: ‘Buy on dips’ – targeting Rs43.29; stoploss at Rs37.28.