Karachi, June 06, 2023 (PPI-OT): KSE-100 closed above the 30-DMA
KSE-100 index extended the gain to close at 41,668 level, up 315 points DoD. Volumes improved to 145mn shares from 100mn shares traded previously. The index has closed above the 30-DMA that will now provide support at 41,458, followed by the 200-DMA at 41,297. Meanwhile, a break above 41,682 (yesterday's high) will extend the gain towards 41,852, followed by 42,091. The RSI and the Stochastic Oscillator are rising, supporting a positive view. We recommend investors to 'Buy' at lower levels, keeping stoploss below the 30-DMA. The support and resistance are at 41,468 and 41,775 levels, respectively.
PSO: Buy signal generated
Strategy: 'Buy on dips' - targeting Rs109.33 and Rs111.95; stoploss at Rs104.21.
PPL: Recovery to continue
Strategy: 'Buy on dips' - targeting Rs63.07 and Rs64.37; stoploss at Rs60.50.