Karachi, August 24, 2021 (PPI-OT): KSE-100 closed above the 50-DMA; ‘Positive’

Bulls continued to dominate the session as the KSE-100 index gained 512 points to close at 48,112. Volumes improved to 398mn shares from 299mn shares traded previously. The index has closed above the 50-DMA that will now restrict downside at 47,670. Meanwhile, a break above 48,145 will extend the gain towards 48,982. The RSI and the MACD have moved up, supporting a positive view. JS Securities Limited recommends investors to ‘Buy’ at lower levels, with risk defined below the 50-DMA. The support and resistance are at 47,760 and 48,305, respectively.

ATRL: Upside to continue

Strategy: ‘Buy on dips’ – targeting Rs228.56 and Rs235.07; stoploss at Rs223.00.

HCAR: Downside target remains intact

Strategy: ‘Sell on Strength’ – targeting Rs333.00; stoploss at Rs364.50.