Karachi, June 02, 2023 (PPI-OT): KSE-100; 200-DMA violation, but limited downside

KSE-100 index after making a high of 41,482, slid to close at 41,267, down 64 points DoD. Volumes stood at 100mn shares versus 158mn shares traded previously. The index has dropped below the 200-DMA that will now restrict upside at 41,317, followed by 30-DMA at 41,380 level and only a break above that said levels will cause the uptrend to resume. Meanwhile, the downside seems to be limited at the 50-DMA that is currently at 40,920 level. Investors are recommended to stay cautious on the higher side and wait for dips. The support and resistance are at 41,168 and 41,423 levels, respectively.

ATRL: Upside target remains intact

Strategy: 'Buy on dips' - targeting Rs169.41 and Rs172.20; stoploss at Rs162.08.

OGDC: Indicators are moving up

Strategy: 'Buy on dips' - targeting Rs77.67 and Rs80.25; stoploss at Rs73.50.