Karachi, November 02, 2021 (PPI-OT): KSE-100 closed above the 200-DMA – ‘Positive’

Positive momentum continued for the KSE-100 as it gained 790 points to close at 46,975. Volumes improved to 430mn shares from 270mn shares traded previously. The index has closed above the 200-DMA that will now restrict downside at 46,210. However, a break above yesterday’s high of 47,252 will target 47,387 which can be extended to a level of 48,980. The RSI and the MACD are also moving up, supporting a positive view. Investors are recommended to ‘Buy on dips’, keeping stoploss below the 200-DMA. The support and resistance are at 46,355 and 47,423 points, respectively.

ATRL: Upside likely

Strategy: ‘Buy on dips’ – targeting Rs199.16; stoploss at Rs170.69.

OGDC: Closed above the 50-DMA

Strategy: ‘Buy on dips’ – targeting Rs96.80; stoploss at Rs85.85.