Karachi, December 27, 2022 (PPI-OT): KSE-100; Recovery to continue

KSE-100 index showed positive movement to close at 40,155 level, up 486 points DoD. Volumes stood at 147mn shares versus 133mn shares traded previously. The index is expected to revisit yesterday’s high of 40,367 where a break above that will extend the gain towards 40,958 level. However, any downside will find support in the range of 39,760 and 40,070 levels. Meanwhile, The RSI and the Stochastic Oscillator have generated a Buy signal, supporting a recovery view. JS Securities Limited recommends investors to ‘Buy on dips’, keeping stop-loss below 39,669 points. The support and resistance are at 39,760 and 40,459 points, respectively.

ATRL: RSI generated a Buy signal

Strategy: ‘Buy on dips’ – targeting Rs143.77 and Rs152.81; stoploss at Rs137.10.

PPL: Rising Window suggests positive momentum ahead

Strategy: ‘Buy on dips’ – targeting Rs65.91; stoploss at Rs59.10.