Karachi, December 06, 2021 (PPI-OT): KSE-100 index at its critical support level; stay cautious

The KSE-100, after making a low of 42,753 recovered to close flat at 42,233. Volumes stood at 288mn shares versus 387mn shares traded previously. The index is expected to re-test support at Friday’s low of 42,753 where a fall below this level will target 41,970, which could further extend to a level of 41,303. However, any upside will face resistance in the range of 43,600-44,050. The indicators are mixed, signalling no clear trading view. Investors are recommended to stay cautious at current levels. The support and resistance are at 42,794 and 43,631, respectively.

ATRL: Downside target remains intact

Strategy: ‘Sell on Strength’ – targeting Rs123.65 and Rs116.13; stoploss at Rs134.00.

OGDC: Recovery expected

Strategy: ‘Buy on dips’ – targeting Rs83.86 and Rs93.47; stoploss at Rs78.60.