Karachi, September 26, 2023 (PPI-OT): KSE-100; Consolidation likely below key averages

KSE-100 index witnessed range-bound activity to close at 46,394, down 27 points DoD. Volumes stood at 196mn shares versus 173mn shares traded previously. The index is expected to face resistance in the range of 46,590-46,720 levels where a break above that will target 47,516. Meanwhile, any downside will be tested between 46,140 and 46,270 levels as a fall below these levels may resume the downtrend. The indicators are mixed, signalling no clear trading view. Investors are recommended to 'Buy' above 46,716. The support and resistance levels are at 46,270 and 46,554, respectively.

ATRL: Upside target remains intact

Strategy: 'Buy on dips' - targeting Rs256.75 and Rs260.69; stoploss at Rs250.50.

SNGP: A steady upward moves likely

Strategy: 'Buy on dips' - targeting Rs48.15 and Rs49.00; stoploss at Rs46.05.