Karachi, February 14, 2023 (PPI-OT): KSE-100 likely to re-test support at 200-DMA; cautious

KSE-100 index extended the decline to close at 41,717, down 25 points DoD. Volumes stood at 192mn shares versus 282mn shares traded previously. The index is expected to re-test support at 41,707 where a fall below that will target 41,450, followed by 41,185. However, any upside will face resistance in the range of 41,920-42,130 where a break above that will continue the uptrend with 43,126 as the next target. 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 41,577 and 41,924 points, respectively.

ATRL: Slide to continue

Strategy: ‘Sell on Strength’ – targeting Rs162.00 and Rs157.49; stoploss at Rs171.48.

BOP: Upside to continue

Strategy: ‘Buy on dips’ – targeting Rs5.38; stoploss at Rs4.99.