Karachi, September 13, 2021 (PPI-OT): KSE-100; Moving averages remain a hurdle

The KSE-100 index posted a gain of 573 points to close at 47,198. Volumes stood at 427mn shares as compared to 396mn shares traded previously. The index is expected to face resistance at the 30-DMA standing at 47,278, followed by the 50-DMA at 47,384. A break above will set a target at 48,144. Meanwhile, any downside will find support in the range of 46,800-47,020. The RSI and the Stochastic Oscillator have moved up, suggesting a positive trend ahead. JS Securities Limited recommends investors to ‘Buy’ above the 50-DMA. The support and resistance are at 46,807 and 47,408, respectively.

ATRL: RSI suggesting positive movement ahead

Strategy: ‘Buy on dips’ – targeting Rs243.00 and Rs254.00; stoploss at Rs227.10.

DGKC: Recovery expected

Strategy: ‘Buy on dips’ – targeting Rs108.90; stoploss at Rs99.00.