Karachi, March 10, 2023 (PPI-OT): KSE-100 closed above the 200-DMA; Positive

Bulls dominated the session as KSE-100 index gained 227 points to close at the 41,586 level. Volumes stood at 229mn shares versus 163mn shares traded previously. The index has closed above the 200-DMA and is expected to target 41,798 where a break above that will extend gain towards 42,568. However, any downside will find support at the 200-DMA that is currently at 41,476. The RSI and the MACD are moving up, supporting a positive view. JS Securities Limited recommends investors to view any downside as an opportunity to ‘Buy’, keeping stop-loss below the 200-DMA. The support and resistance are at 41,414 and 41,703 points, respectively.

ATRL: Uptrend resume

Strategy: ‘Buy on dips’ – targeting Rs178.00 and Rs185.72; stoploss at Rs166.23.

ISL: Upside to continue

Strategy: ‘Buy on dips’ – targeting Rs46.78 and Rs48.02; stoploss at Rs43.05.