Karachi, January 03, 2022 (PPI-OT): KSE-100; Upside to continue

The KSE-100 index posted a gain of 180 points to close at 44,596 level. Volumes stood at 318mn shares versus 243mn shares traded previously. The index is expected to revisit Friday’s high of 44,646 where a break above this level will target the 50-DMA at 45,025. However, any downside will find support at the 30-DMA that is currently at 44,122 level. Meanwhile, the RSI and the MACD are heading up, supporting a positive view. Investors are recommended to ‘Buy on dips’, keeping stoploss below the 30-DMA. The support and resistance are at 44,387 and 44,726, respectively.

DGKC: Upside target remains intact

Strategy: ‘Buy on dips’ – targeting Rs86.5 and Rs98.4; stoploss at Rs81.7.

OGDC: Engulfing Bull

Strategy: ‘Buy on dips’ – targeting Rs91.1; stoploss at Rs84.1.