Karachi, September 01, 2022 (PPI-OT): KSE-100 expected to consolidate

KSE-100 index witnessed a volatile session to close at 42,351 level, up 156 points DoD. Volumes stood at 181mn shares versus 238mn shares traded previously. The index is likely to revisit 42,472 (yesterday’s high) where a break above that will target the 100-DMA at 42,745. However, any downside will find support at the 50-DMA that currently stands at 41,763. The RSI has improved, while the MACD is heading down, signalling no clear trading view. JS Securities Limited recommends investors to ‘Buy on dips’, with risk defined below the 50-DMA. The support and resistance are at 42,129 and 42,523, respectively.

DGKC: Upside likely

Strategy: ‘Buy on dips’ – targeting Rs62.80 and Rs65.70; stoploss at Rs58.10.

HCAR: Limited downside risk

Strategy: ‘Buy on dips’ – targeting Rs180.70 and Rs187.30; stoploss at Rs172.68.