Karachi, March 28, 2022 (PPI-OT): KSE-100; A steady upward move expected

KSE-100 index closed the session at 43,551 with a gain of 29 points compared to the previous session. Volumes improved slightly to stand at 162mn shares versus 150mn shares traded previously. The index is expected to revisit Friday’s high of 43,686 where a break above this level will initially target 43,788 which may further extend to the 30-DMA at 44,285. Whereas, any downside will find support in the range of 43,380-43,540 and a fall below these levels will target 42,710-42,790. Investors are suggested to ‘Buy’ for trading gains, with risk defined below 43,375. The support and resistance are at 43,389 and 43,700, respectively.

HBL: Buy signal generated

Strategy: ‘Buy on dips’ – targeting Rs116.31 and Rs121.90; stoploss at Rs110.55.

ISL: A steady uptrend to continue

Strategy: ‘Buy on dips’ – targeting Rs61.05 and Rs64.37; stoploss at Rs59.00.