Karachi, February 10, 2023 (PPI-OT): KSE-100 closed above the 200-DMA; Positive

Bulls continued to dominate the session as KSE-100 index gained 743 points to close at 42,467 level. Volumes improved to 367mn shares from 298mn shares traded previously. The index has closed above the 200-DMA that indicates bullish momentum is expected to continue. Our next target remains intact at 43,126 which could later extend to 44,300. However, any downside will be tested at the 200-DMA that currently stands at 41,746. The RSI and the MACD have continued to rise, supporting a positive view. JS Securities Limited recommends investors to ‘Buy’ at lower levels, keeping stop-loss below the 200-DMA. The support and resistance are at 41,937 and 42,782 points, respectively.

UBL: Indicators are heading up

Strategy: ‘Buy on dips’ – targeting Rs109.70 and Rs113.70; stoploss at Rs103.00.

DGKC: Picking up momentum

Strategy: ‘Buy on dips’ – targeting Rs44.29 and Rs46.24; stoploss at Rs41.40.