Karachi, December 10, 2021 (PPI-OT): KSE-100 still trading above the key support level

The KSE-100 index closed the session at 43,519, down 328 points. Volumes stood at 200mn shares versus 233mn shares traded previously. The index is expected to re-test support at 43,274 where a fall below that level will target 42,752. However, any upside will face resistance in the range of 43,600-44,000 and a break above these levels will extend the gain towards 44,608. The indicators are mixed, signalling no clear trading view. We recommend investors to stay cautious on the higher side and wait for dips. The support and resistance are at 43,196 and 43,919, respectively.

PSO: Restricted upside

Strategy: ‘Sell on Strength’ – targeting Rs169.23 and Rs160.10; stoploss at Rs181.83.

OGDC: Upside to continue

Strategy: ‘Buy on dips’ – targeting Rs92.93; stoploss at Rs83.60.