Karachi, April 01, 2022 (PPI-OT): KSE-100 closed above the 50-DMA; ‘Positive’

Bulls dominated the session as KSE-100 index gained 591 points to close at the 44,929 level. Volumes stood at 416mn shares versus 344mn shares traded previously. The index has closed above the 50-DMA indicating further potential upside. The next target is at 45,060 where a break above that level will target the 200-DMA that currently stands at 45,710.

However, any downside will find support at 44,679 (50-DMA), followed by the 30-DMA at 44,101. The RSI and the MACD are moving up, supporting a positive view. We recommend investors to ‘Buy on dips’ with risk defined below the 50-DMA. The support and resistance are at 44,535 and 45,126, respectively.

ATRL: Closed above the 30-DMA – ‘Positive’

Strategy: ‘Buy on dips’ – targeting Rs137.05; stoploss at Rs125.62.

BOP: Engulfing Bull

Strategy: ‘Buy on dips’ – targeting Rs7.61 and Rs7.94; stoploss at Rs6.83.