Karachi, November 19, 2021 (PPI-OT): KSE-100; Range bound activity expected

The KSE-100 index witnessed a volatile session to close at 46,111, down by 84 points. Volumes stood at 264mn shares versus 238mn shares traded previously. The index is expected to trade between the 50-DMA and the 200-DMA that currently stands at 45,737 and 46,264 levels, respectively. The Stochastic Oscillator has moved up, while the RSI has shown weakness, signalling no clear trading view. We recommend investors to stay cautious on the higher side and wait for dips. The support and resistance are at 45,795 and 46,359, respectively.

UBL: Upside likely

Strategy: ‘Buy on dips’ – targeting Rs143.37; stoploss at Rs134.80.

ATRL: Upside to continue

Strategy: ‘Buy on dips’ – targeting Rs177.66 and Rs186.88; stoploss at Rs162.80.