Karachi, April 12, 2022 (PPI-OT): KSE-100 closed above the 200-DMA; ‘Positive’

Bulls continued to dominate the session as KSE-100 index gained 1,700 points to close at 46,145. Volumes improved to 558mn shares from 228mn shares traded previously. The index has closed above the 200-DMA and the 50-DMA that will now restrict downside at 45,583 and 44,613, respectively. Meanwhile, any upside will initially target 46,412 which could later extend to 47,041. The RSI and the MACD are heading up, supporting a positive view. JS Securities Limited recommends investors to ‘Buy on dips’, keeping stop-loss below the 200-DMA. The support and resistance are at 44,988 and 46,759, respectively.

PPL: Upside target remains intact

Strategy: ‘Buy on dips’ – targeting Rs76.61 and Rs78.30; stoploss at Rs73.00.

PSO: Upside to continue

Strategy: ‘Buy on dips’ – targeting Rs172.95 and Rs186.00; stoploss at Rs166.02.