Karachi, June 17, 2022 (PPI-OT): KSE-100 moving up steadily

KSE-100 index continued with its recovery movement to close at 41,730, up 291 points DoD. Volumes stood at 162mn shares versus 142mn shares traded previously. If the gain continues, the initial target will be at 42,070 which could later extend to the 30-DMA level at 42,443. However, any downside will find support in the range of 41,440-41,610. The RSI and the MACD have moved up, supporting a recovery view. JS Securities Limited recommends investors to ‘Buy on dips’, keeping stop-loss below 41,323. The support and resistance are at 41,447 and 41,889, respectively.

OGDC: Closed above 50-DMA – ‘Positive’

Strategy: ‘Buy on dips’ – targeting Rs84.83; stoploss at Rs80.60.

DGKC: Indicators are heading up

Strategy: ‘Buy on dips’ – targeting Rs63.15; stoploss at Rs58.40.