Karachi, September 22, 2023 (PPI-OT): KSE-100 moving towards the 30-DMA level

KSE-100 index witnessed a volatile session as it closed the session at 46,202, up 313 points DoD. Volumes stood at 172mn shares versus 129mn shares traded previously. The index is expected to test resistance at 46,310 (yesterday's high) where a break above that will target the 30-DMA at 46,632. However, any downside will find support in the range of 45,850-46,080 levels. The RSI and the MACD are heading up, suggesting a positive trend ahead. Investors are recommended to 'Buy' above 46,310. The support and resistance levels are at 45,854 and 46,430, respectively.

ATRL: Gaining momentum

Strategy: 'Buy on dips' - targeting Rs251.84 and Rs260.69; stoploss at Rs242.11.

ENGRO: Recovery trend intact

Strategy: 'Buy on dips' - targeting Rs250.61 and Rs253.88; stoploss at Rs244.80.