Karachi, March 29, 2022 (PPI-OT): KSE-100 expected to target the 30-DMA

KSE-100 index after making a low of 43,291 recovered to close at 43,934, up 382 points. However, volumes stood dull at 133mn shares versus 162mn shares traded previously. The index is expected to target the 30-DMA that is currently at 44,213 and a break above this level will target 44,724 (50-DMA). However, any downside will find support in the range of 43,500-43,720 where a fall below that will target 42,710-42,790 range. The RSI and the MACD are heading up, supporting a recovery view. JS Securities Limited recommends investors to ‘Buy’ for trading gains, keeping stoploss below 43,291. The support and resistance are at 43,505 and 44,148, respectively.

HBL: Upside to continue

Strategy: ‘Buy on dips’ – targeting Rs115.99 and Rs121.79; stoploss at Rs111.00.

PSO: MACD generated a buy signal

Strategy: ‘Buy on dips’ – targeting Rs166.00 and Rs170.09; stoploss at Rs155.61.