Karachi, September 04, 2023 (PPI-OT): KSE-100; Consolidation expected below the 50-DMA
KSE-100 index witnessed a volatile session to close at 45,313, up 310 points. Volumes stood at 162mn shares versus 287mn shares traded previously. The index is expected to consolidate below the 50-DMA that currently stands at 45,731 level where a break above the said level will initiate the recovery trend with 47,394 as the recovery target. However, any downside will find support at 44,795 as a fall below that will target 44,460. Meanwhile, the indicators are mixed, signalling no clear trading view. Investors are recommended to 'Buy' above the 50-DMA. The support and resistance are at 44,953 and 45,515 levels, respectively.
ATRL: Recovery likely
Strategy: 'Buy on dips' - targeting Rs228.68 and Rs237.53; stoploss at Rs216.01.
HCAR: Stochastic Oscillator generated a Buy signal
Strategy: 'Buy on dips' - targeting Rs110.04 and Rs115.97; stoploss at Rs100.00.