Karachi, January 12, 2022 (PPI-OT): KSE-100 likely to re-test resistance at the 200-DMA

The KSE-100 index witnessed a volatile session to close at 45,881, down 7 points DoD. Volumes stood at 339mn shares versus 357mn shares traded previously. The index is expected to re-test resistance at the 200-DMA that is currently at 46,008 where a break above this level will target 47,608. However, any downside will revisit yesterday’s low of 45,524 where a drop below the said level will target the 50-DMA at 44,928. The indicators are mixed, signalling no clear trading view. JS Securities Limited recommends investors to view any downside as an opportunity to ‘Buy’, with risk defined below the 50-DMA. The support and resistance are at 45,584 and 46,118, respectively.

PSO: Upside target remains intact

Strategy: ‘Buy on dips’ – targeting Rs198.9; stoploss at Rs184.5.

ATRL: Upside likely

Strategy: ‘Buy on dips’ – targeting Rs171.0; stoploss at Rs158.5.