Karachi, October 04, 2021 (PPI-OT): KSE-100; Recovery trend remains intact

The KSE-100 index witnessed a volatile session to close at 44,872 (-28 points). Volumes stood at 267mn shares versus 372mn shares traded previously. The index is expected to revisit Friday’s high of 45,003 where a break above that level will target the 200-DMA that currently stands at 46,046. Meanwhile, any downside will find support at 44,600, followed by its recent low of 43,970. The RSI has moved down, while the Stochastic Oscillator is heading up, signaling no clear trading view. We recommend investors to ‘Buy on dips’, keeping stoploss below 44,600. The support and resistance are at 44,646 and 45,050, respectively.

SNGP: Upside likely

Strategy: ‘Buy on dips’ – targeting Rs53.29; stoploss at Rs45.00.

ISL: Recovery trend to continue

Strategy: ‘Buy on dips’ – targeting Rs82.70; stoploss at Rs75.49.