Karachi, June 25, 2021 (PPI-OT): KSE-100; Consolidation likely

The KSE-100 index witnessed a volatile session to close at 47,963, up 62 points. Volumes stood at 639mn shares versus 619mn shares traded previously. The index is expected to consolidate at current levels. Meanwhile, a fall below yesterday’s low of 47,897 will extend the decline towards the 30-DMA at 47,422. However, any upside will face resistance in the range of 47,990-48,120 where a break above will cause the uptrend to resume. The RSI has improved, while the MACD is moving down, signaling no clear trading view. Investors are recommended to stop selling above 48,118. The support and resistance are at 47,867 and 48,088, respectively.

OGDC: Downside target remains intact

Strategy: ‘Sell on Strength’ – targeting Rs95.35; stoploss at Rs100.25.

ATRL: Slide to continue

Strategy: ‘Sell on Strength’ – targeting Rs251.56; stoploss at Rs270.77.