Karachi, February 07, 2022 (PPI-OT): KSE-100; 200-DMA remains a key hurdle for upside

The KSE-100 index witnessed a volatile session to close at 45,910 level, up 47 points. Volumes stood dull at 192mn shares versus 328mn shares traded previously. The index is expected to revisit Friday’s low of 45,815 where a drop below that level will kick off a corrective trend with 45,207 as the downside target. However, any upside will face resistance at 46,060 (200-DMA) where a break above that will target its recent high at the 46,388 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 45,771 and 46,090, respectively.

BOP: Upside likely

Strategy: ‘Buy on dips’ – targeting Rs9.15 and Rs9.68; stoploss at Rs8.50.

PSO: Upside target remains intact

Strategy: ‘Buy on dips’ – targeting Rs198.94 and Rs204.91; stoploss at Rs190.05.