Karachi, June 21, 2021 (PPI-OT): KSE-100; Range bound activity to continue

The KSE-100 index closed the session at 48,239, up 81 points. Volumes stood at 751mn shares versus 1,117mn shares traded previously. The index is expected to revisit Friday’s low of 48,023 where a fall below will extend the decline towards 46,937. However, any upside will face resistance in the range of 48,420-48,620. The RSI has improved, while the MACD is heading down, signaling no clear trading view. JS Securities Limited recommends investors to ‘Sell on Strength’, keeping stoploss above 48,412. The support and resistance are at 48,037 and 48,426, respectively.

OGDC: Slide to continue

Strategy: ‘Sell on Strength’ – targeting Rs95.40 and Rs94.14; stoploss at Rs102.55.

BOP: Downside target remains intact

Strategy: ‘Sell on Strength’ – targeting Rs8.07 and Rs7.98; stoploss at Rs8.35.