Karachi, October 19, 2022 (PPI-OT): KSE-100 expected to trade range bound

KSE-100 index witnessed a volatile session to close at 41,839, up 84 points. Volumes stood at 190mn shares versus 144mn shares traded previously. The index is expected to trade between the 30-DMA and the 50-DMA that are currently at the 41,626 and 42,091 levels, respectively. A break on either side will set the market direction. RSI has improved, while the Stochastic Oscillator is heading down, signalling no clear trading view. Investors are recommended to stay cautious on the higher side and wait for dips. The support and resistance are at 41,727 and 41,979 levels, respectively.

ATRL: Downside target remains intact

Strategy: ‘Sell on Strength’ – targeting Rs155.17 and Rs151.32; stoploss at Rs161.50.

DGKC: Moving averages to restrict upside

Strategy: ‘Sell on Strength’ – targeting Rs55.56 and Rs52.53; stoploss at Rs60.17.