Karachi, September 25, 2023 (PPI-OT): KSE-100; Moving averages looming ahead

KSE-100 index extended the gain to close at 46,421 level, up 219 points DoD. Volumes stood at 173mn shares versus 172mn shares traded previously. The index is likely to face resistance at the 30-DMA which is currently at 46,585, followed by 46,694 (50-DMA). A break above will drive KSE-100 towards 47,516. However, any downside will find support in the range of 46,050-46,240 levels. The RSI and the MACD are moving up, suggesting a positive trend ahead. We recommend investors to 'Buy' above the 50-DMA. The support and resistance levels are at 46,235 and 46,554, respectively.

ATRL: A steady uptrend to continue

Strategy: 'Buy on dips' - targeting Rs254.60 and Rs260.69; stoploss at Rs250.44.

SNGP: 200-DMA breakout on weekly chart

Strategy: 'Buy on dips' - targeting Rs48.15 and Rs49.00; stoploss at Rs45.60.