Karachi, October 07, 2022 (PPI-OT): KSE-100 – Closed above 30-DMA and 50-DMA; ‘Positive’

Bulls continued to dominate the session as KSE-100 index gained 549 points to close at 42,161. Volumes stood at 443mn shares versus 636mn shares traded previously. The index has closed above the 30-DMA and the 50-DMA that will now restrict downside in the range of 41,694-41,875 levels. Meanwhile, a rise above 42,202 (yesterday’s high) will extend the gain towards 42,562, followed by the 200-DMA at 43,330. The RSI and the MACD are heading up, supporting a positive view. Investors are recommended to ‘Buy on dips’, keeping stop-loss below the 30-DMA. The support and resistance are at 41,780 and 42,370 levels, respectively.

ATRL: Picking up momentum

Strategy: ‘Buy on dips’ – targeting Rs157.39 and Rs170.00; stoploss at Rs148.46.

OGDC: Engulfing Bull

Strategy: ‘Buy on dips’ – targeting Rs77.91 and Rs83.09; stoploss at Rs74.50.