Karachi, June 29, 2021 (PPI-OT): KSE-100; Range bound activity expected

The KSE-100 index closed the session at 47,002, down 601 points. Volumes stood at 655mn shares versus 761mn shares traded previously. The index has dropped below the 30-DMA that will act as resistance at 47,543. Meanwhile, any downside will find support at the 50-DMA that stands at 46,543. The indicators are mixed, signaling no clear trading view. JS Securities Limited recommends investors to view any downside as an opportunity to ‘Buy’, with risk defined below 46,543. The support and resistance are at 46,715 and 47,478, respectively.

ISL: Recovery expected

Strategy: ‘Buy on dips’ – targeting Rs97.87 and Rs101.50; stoploss at Rs91.62.

HBL: Slide to continue

Strategy: ‘Sell on Strength’ – targeting Rs112.11; stoploss at Rs127.64.