Karachi, April 28, 2023 (PPI-OT): KSE-100 closed above the 200-DMA; 'Positive'

Bulls continued to dominate the session as KSE-100 gained 364 points DoD to close at 41,464. Volumes stood at 169mn shares versus 187mn shares traded previously. The index has closed above the 200-DMA that will now restrict downside at 41,281 level. Meanwhile, a break above 41,519 will lead to further gain towards 42,292 level. The index is trading above the upper Bollinger Band, hence, a short term pullback inside the band cannot be ruled out. JS Securities Limited recommends investors to stay cautious on the higher side and wait for dips. The support and resistance are at 41,190 and 41,628 points, respectively.

ENGRO: Downside target remains intact

Strategy: 'Sell on Strength' - targeting Rs298.53 and Rs293.20; stoploss at Rs308.50.

DGKC: Likely to resume uptrend

Strategy: 'Buy on dips' - targeting Rs47.84 and Rs48.90; stoploss at Rs44.11.