Karachi, April 04, 2023 (PPI-OT): KSE-100; Consolidation likely

KSE-100 index posted a loss of 111 points to close at the 39,890 level. Volumes stood dull at 74mn shares versus 112mn shares traded previously. The index is expected to re-test support at 39,729 where a fall below that will extend the decline towards 39,496 which could later extend to 39,166. However, any upside will face resistance at 40,078 and a break above this level will target 40,334, followed by 40,708. The indicators are mixed, signalling no clear trading view. JS Securities Limited recommends investors to ‘Buy’ at lower levels, keeping stop-loss below the 39,729 level. The support and resistance are at 39,808 and 40,025 points, respectively.

DGKC: Limited downside risk

Strategy: ‘Buy on dips’ – targeting Rs45.94 and Rs48.90; stoploss at Rs42.21.

ATRL: Trading above key support

Strategy: ‘Buy on dips’ – targeting Rs173.40 and Rs174.90; stoploss at Rs166.24.