Karachi, February 10, 2022 (PPI-OT): KSE-100 closed above the 200-DMA; ‘Positive’

The KSE-100 index posted a gain of 392 points to close at the 46,340 level. Volumes stood at 243mn shares versus 187mn shares traded previously. The index has closed above the 200-DMA indicating potential for further upside. A break above yesterday’s high of 46,406 will confirm the resumption of uptrend with 46,680 and 46,960 as the next target levels. However, any downside will be restricted at the 200-DMA that is currently at 46,074. The RSI and the MACD are heading north, supporting a positive view. Investors are recommended to ‘Buy’ at lower levels, keeping stop-loss below the 200-DMA. The support and resistance are at 46,056 and 46,514, respectively.

ISL: Limited downside risk

Strategy: ‘Buy on dips’ – targeting Rs74.38 and Rs81.60; stoploss at Rs67.40.

ENGRO: Upside to continue

Strategy: ‘Buy on dips’ – targeting Rs296.50 and Rs308.92; stoploss at Rs287.52.