Karachi, September 15, 2023 (PPI-OT): KSE-100; Consolidation to continue
KSE-100 index witnessed another range-bound session to close at the 45,650 level, up 59 points DoD. Volumes stood at 138mn shares versus 103mn shares traded previously. The index is likely to revisit yesterday's high of 45,777 where a break above that will target the 50-DMA at 46,518. However, a fall below 45,581 will extend the decline toward its recent low of 44,460 level. The indicators are mixed, signalling no clear trading view. Investors are recommended to 'Buy' above the 45,777 level. The support and resistance levels are at 45,562 and 45,758, respectively.
DGKC: MACD generated a Buy signal
Strategy: 'Buy on dips' - targeting Rs42.93 and Rs44.30; stoploss at Rs41.15.
ISL: Trading above the 200-DMA
Strategy: 'Buy on dips' - targeting Rs45.23 and Rs46.20; stoploss at Rs43.62.