Karachi, September 10, 2021 (PPI-OT): KSE-100 expected to consolidate at current levels

The KSE-100 index ended the session at 46,625, up 228 points. Volumes stood at 396mn shares versus 478mn shares traded previously. The index is expected to consolidate at current levels. Meanwhile, a fall below 46,397 will continue the downtrend with 45,650 (200-DMA) as the downside target. However, a break above 46,665 will extend the gain towards 47,113. The indicators are mixed, signaling no clear trading view. Investors are recommended to view any upside as an opportunity to ‘Sell’, with risk defined above 46,665. The support and resistance are at 46,459 and 46,728, respectively.

HBL: Slide to continue

Strategy: ‘Sell on Strength’ – targeting Rs112.11; stoploss at Rs118.50.

HCAR: Downside target remains intact

Strategy: ‘Sell on Strength’ – targeting Rs270.00; stoploss at Rs300.00.