Karachi, February 28, 2022 (PPI-OT): KSE-100; Upward adjustment – stay cautious

The KSE-100 index witnessed a volatile session to close at 43,984 level, up 154 points. Volumes stood at 242mn shares versus 350mn shares traded previously. The index is expected to revisit Friday’s low of 43,805 where a drop below this level will continue the downtrend with 43,439 and 42,922 levels in sight. However, any upside will face resistance at 44,193 and any upside break above the said level will target 44,812. The indicators are mixed, signalling no clear trading view. JS Securities Limited recommends investors to ‘Sell on Strength’, with risk defined above 44,812 level. The support and resistance are at 43,795 and 44,183, respectively.

DGKC: Slide to continue

Strategy: ‘Sell on Strength’ – targeting Rs67.15; stoploss at Rs73.99.

UBL: Upside target remains intact

Strategy: ‘Buy on dips’ – targeting Rs152.40 and Rs155.80; stoploss at Rs147.15.