Karachi, December 17, 2021 (PPI-OT): KSE-100; Consolidation expected at current levels

The KSE-100 index showed a decline of 636 points to close at 43,731. Volumes stood at 312mn shares versus 398mn shares traded previously. The index is expected to revisit yesterday’s low of 43,608 where a drop below this level will target its critical support level of 42,700. However, any upside will face resistance in the range of 43,900-44,400 where a break above the said range will target the 50-DMA at 45,114 level. The indicators are mixed, signalling no clear trading view. JS Securities Limited recommends investors to stay cautious on the higher side and wait for dips. The support and resistance are at 43,428 and 44,213, respectively.

ATRL: Upside target remains intact

Strategy: ‘Buy on dips’ – targeting Rs152.90; stoploss at Rs139.00.

UBL: Closed below the 50-DMA

Strategy: ‘Sell on Strength’ – targeting Rs127.28; stoploss at Rs139.11.