Karachi, July 04, 2022 (PPI-OT): KSE-100 expected to trade range bound

A steady uptrend continued with KSE-100 index gaining 90 points to close at the 41,630 level. Volumes stood at 154mn shares versus 193mn shares traded previously. The index is expected to target the 30-DMA that currently stands at 41,952 and this may further rise to 42,780-42,980 levels. However, any downside will find support within 41,530-41,430 range and a fall below that will target the key support range of 40,550-40,650. The RSI and the MACD have moved up, supporting a positive view. JS Securities Limited recommends investors to ‘Buy on dips’, keeping stop-loss below 41,220. The support and resistance are at 41,531 and 41,737, respectively.

UBL: Recovery to continue

Strategy: ‘Buy on dips’ – targeting Rs116.45 and Rs117.97; stoploss at Rs111.56.

DGKC: Post breakout consolidation

Strategy: ‘Buy on dips’ – targeting Rs67.84 and Rs70.25; stoploss at Rs60.77.