Karachi, September 15, 2021 (PPI-OT): KSE-100 expected to target the 200-DMA
The KSE-100 index posted a loss of 379 points to close at the level of 46,891. Volumes stood at 480mn shares versus 395mn shares traded previously. The index is expected to revisit yesterday’s low of 46,607 where a fall below this level will target the 200-DMA that currently stands at 45,749. Any upside will face resistance in the range of 46,960-47,275. The indicators are mixed, signaling no clear trading view and JS Securities Limited recommends investors to view any upside as an opportunity to ‘Sell’, with risk defined above 47,387. The support and resistance are at 46,537 and 47,317, respectively.
ISL: Downside likely
Strategy: ‘Sell on Strength’ – targeting Rs89.88; stoploss at Rs96.05.
HBL: Recovery to continue
Strategy: ‘Buy on dips’ – targeting Rs121.49 and Rs125.48; stoploss at Rs117.63.