Karachi, December 27, 2021 (PPI-OT): KSE-100; Resistance at the 30-DMA

The KSE-100 index posted a loss of 149 points on Friday to close at 44,118. Volumes stood at 223mn shares versus 240mn shares traded previously. The index is trading below the 30-DMA that will restrict upside at 44,450 where a break above this level will target the 50-DMA at 45,127. However, any downside will find support in the range of 43,950-44,040 where a fall below the said levels will target the critical level of 42,700. 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 43,950 and 44,377, respectively.

HCAR: Upside target remains intact

Strategy: ‘Buy on dips’ – targeting Rs251.00; stoploss at Rs226.00.

BOP: Restricted upside

Strategy: ‘Sell on Strength’ – targeting Rs8.33; stoploss at Rs8.57.