Karachi, November 30, 2022 (PPI-OT): KSE-100: Support at the 30-DMA

KSE-100 index showed positive movement to close at 42,374 level, up 302 points DoD. Volumes stood low at 139mn shares versus 244mn shares traded previously. The index has closed above the 30-DMA that will now restrict downside at 42,318, followed by the 50-DMA at 42,002. However, any upside will revisit yesterday’s high of 42,438 where a break above that will target the 200-DMA at 42,824. The indicators are mixed, signalling no clear trading view. Investors are recommended to view any downside as an opportunity to ‘Buy’, keeping stop-loss below the 50-DMA. The support and resistance are at 42,131 and 42,527 levels, respectively.

HBL: Upside likely

Strategy: ‘Buy on dips’ – targeting Rs69.30 and Rs71.47; stoploss at Rs66.52.

ATRL: 30-DMA to restrict upside

Strategy: ‘Sell on Strength’ – targeting Rs161.89 and Rs152.17; stoploss at Rs169.31.