Karachi, July 03, 2023 (PPI-OT): KSE-100; Upside likely

KSE-100 index extended the gain to close at 41,453 level, up 16 points. Volumes stood at 235mn shares versus 227mn shares traded previously. If the gain continues, the likely target will be at 42,307 which could later extend to 42,876 level. However, any downside will find support at 41,289 (30-DMA), followed by the 200-DMA at 41,198 level. The RSI and the MACD are heading up, supporting a positive view. We recommend investors to view any downside as an opportunity to 'Buy', with risk defined below the 200-DMA. The support and resistance are at 41,239 and 41,637 points, respectively.

DGKC: Upside target remains intact

Strategy: 'Buy on dips' - targeting Rs54.90 and Rs57.15; stoploss at Rs50.08.

PSO: Closed above 50-DMA

Strategy: 'Buy on dips' - targeting Rs115.45 and Rs121.45; stoploss at Rs107.10.