Karachi, November 03, 2021 (PPI-OT): KSE-100; Consolidation expected – ‘wait for dips’

The KSE-100 index closed the session at 47,113, up 138 points. Volumes stood at 306mn shares versus 430mn shares traded previously. The index is expected to face resistance in the range of 47,250-47,350 where a break above will target 48,980. However, any downside will find support in the range of 46,790-46,955. The RSI and the MACD are on a rising trend, supporting a positive view. JS Securities Limited recommends investors to view any downside as an opportunity to ‘Buy’, with risk defined below the 200-DMA. The support and resistance are at 46,954 and 47,294 points, respectively.

ATRL: Upside to continue

Strategy: ‘Buy on dips’ – targeting Rs199.16; stoploss at Rs180.40.

OGDC: Limited downside risk

Strategy: ‘Buy on dips’ – targeting Rs96.67; stoploss at Rs86.43.