Karachi, October 14, 2022 (PPI-OT): KSE-100; Consolidation to continue

KSE-100 index witnessed a volatile session to close at 42,086 level, up 79 points DoD. Volumes stood at 222mn shares versus 239mn shares traded previously. The index is consolidating at the 50-DMA that currently stands at the 42,072 level. However, a drop below that will target the 30-DMA at 41,643. Meanwhile, any upside will revisit yesterday’s high of 42,121 where a break above that will target 42,562. The RSI and the MACD have improved, supporting a positive view. Investors are recommended to view any downside as an opportunity to ‘Buy’, with risk defined below 41,643. The support and resistance are at 41,951 and 42,171 levels, respectively.

ATRL: Upside to continue

Strategy: ‘Buy on dips’ – targeting Rs170.00 and Rs182.61; stoploss at Rs160.31.

PPL: Moving up steadily

Strategy: ‘Buy on dips’ – targeting Rs62.38 and Rs65.91; stoploss at Rs58.05.