Karachi, October 05, 2021 (PPI-OT): KSE-100; Upside to continue

The KSE-100 index, after making a low of 44,562, recovered to close at the level of 45,045 (+173 points). Volumes stood flat at 267mn shares. The index is likely to continue the recovery trend with 46,060 (200-DMA) as the upside target. However, any downside will find support at 44,562, followed by 43,970. The RSI and the Stochastic Oscillator are heading up, supporting a recovery view. JS Securities Limited recommends investors to view any downside as an opportunity to ‘Buy’, keeping stoploss below 44,562. The support and resistance are at 44,703 and 45,245, respectively.

PSO: Upside likely

Strategy: ‘Buy on dips’ – targeting Rs209.87 and Rs214.32; stoploss at Rs196.00.

ISL: Recovery trend to continue

Strategy: ‘Buy on dips’ – targeting Rs82.70; stoploss at Rs76.65.