Karachi, June 15, 2022 (PPI-OT): KSE-100; Low volumes remains a key concern

KSE-100 index after making a low of 40,658, recovered to close up by 175 points at the 41,055 level. Volumes stood at 120mn shares versus 164mn shares traded previously. The index is expected to consolidate at current levels where we believe the index to trade in a range of 40,600 to 41,350 levels. A break on either side will set the market direction. The indicators are mixed signalling no clear trading view. JS Securities Limited recommends investors to view any downside as an opportunity to ‘Buy’, with strict stop-loss defined below 40,600. The support and resistance are at 40,770 and 41,228, respectively.

SNGP: Engulfing Bull

Strategy: ‘Buy on dips’ – targeting Rs35.97; stoploss at Rs29.90.

ENGRO: Upside target remains intact

Strategy: ‘Buy on dips’ – targeting Rs266.84 and Rs272.08; stoploss at Rs258.50.