Karachi, August 13, 2021 (PPI-OT): KSE-100; Range-bound activity is likely to continue

The KSE-100 index closed the session at 47,271, down 107 points. Volumes stood at 230mn shares as compared to 383mn shares traded previously. The index is likely to test support at its critical level of 46,925 where a drop below will extend the decline towards 45,674, followed by the 200-DMA at 45,078. However, any upside will continue to face resistance in the range of 47,500-47,750. Meanwhile, the indicators are mixed, signaling no clear trading view. JS Securities Limited recommends investors to stay cautious on the higher side and wait for dips. The support and resistance are at 47,112 and 47,493, respectively.

ISL: Upside target remains intact

Strategy: ‘Buy on dips’ – targeting Rs97.00 and Rs101.50; stoploss at Rs91.79.

ATRL: Slide to continue

Strategy: ‘Sell on Strength’ – targeting Rs210.02; stoploss at Rs227.10.