Karachi, April 15, 2022 (PPI-OT): KSE-100; A bearish divergence on RSI – stay cautious

KSE-100 index showed positive movement to close at 46,484, up 319 points. Volumes stood at 495mn shares versus 475mn shares traded previously. The index is expected to consolidate at current levels. Meanwhile, a fall below 46,054 will initiate the corrective trend with 45,570 in sight. Any upside will face resistance in the range of 46,500-46,650 where a break above these levels will cause the uptrend to resume with 47,041 and 47,869 as the next targets. A bearish divergence has been created on the RSI, warranting a cautious stance. JS Securities Limited recommends investors to stay cautious on the higher side and wait for dips. The support and resistance are at 46,189 and 46,645, respectively.

ATRL: Engulfing Bull

Strategy: ‘Buy on dips’ – targeting Rs173.24; stoploss at Rs142.00.

ISL: Upside target remains intact

Strategy: ‘Buy on dips’ – targeting Rs70.10 and Rs72.50; stoploss at Rs62.35.