Karachi, September 27, 2023 (PPI-OT): KSE-100; Moving averages still remains the key hurdle

KSE-100 index witnessed another range-bound activity to close at 46,278, down 116 points DoD. Volumes stood at 259mn shares versus 196mn shares traded previously. The index is trading below the 30-DMA which will restrict upside at 46,442, followed by 46,740 (50-DMA) where a break above the said levels will target the 47,516 level. However, any downside will find support in the range of 46,100-46,190 levels where a fall below these levels may resume the downtrend. The momentum indicators are mixed, signalling no clear trading view. Investors are recommended to 'Buy' above the 50-DMA level. The support and resistance levels are at 46,190 and 46,435, respectively.

ATRL: Upside to continue

Strategy: 'Buy on dips' - targeting Rs270.60 and Rs275.00; stoploss at Rs263.70.

BOP: Upside likely

Strategy: 'Buy on dips' - targeting Rs4.15 and Rs4.90; stoploss at Rs3.72.