Karachi, June 18, 2021 (PPI-OT): KSE-100; steady downtrend likely to continue
The KSE-100 index witnessed another negative session to close at 48,158, down 323 points. Volumes stood at 1,117mn shares versus 937mn shares traded previously. The downside target for the index remains intact at 46,937. However, any upside might face resistance in the range of 48,270-48,550 where a break above will cause the uptrend to resume. The RSI and the MACD are heading down, supporting the corrective view. JS Securities Limited recommends investors to ‘Sell on Strength’, keeping stoploss above 48,545. The support and resistance are at 48,001 and 48,430, respectively.
ATRL: Downside likely
Strategy: ‘Sell on Strength’ – targeting Rs242.26; stoploss at Rs270.75.
DGKC: Slide to continue
Strategy: ‘Sell on Strength’ – targeting Rs121.59; stoploss at Rs128.40.