Karachi, 11 Oct 2023:JS Securities Limited has provided insights into the upward trend observed in the KSE-100 index, recommending a 'Buy on dips' strategy for investors, according to a research report from the firm. The KSE-100 index has recorded a gain of 418 points, closing at 48,140, with trading volumes at 350mn shares compared to the previously traded 234mn shares. Notably, if the index breaks above the recent high of 48,166, JS Securities anticipates a continuation of the uptrend, targeting 48,828 and 49,344 as subsequent aims. Even though the RSI and the Stochastic Oscillator are presently in the overbought zone, indicating a need for caution, the overarching trend remains bullish.

The firm points to specific levels of support in the event of a downturn, identified in the 47,840-48,010 range. Investors are advised to maintain a 'Buy on dips' approach, ensuring to implement a stop-loss below the 47,708 level. In terms of support and resistance, levels are earmarked at 47,843 and 48,302, respectively.

In addition to the general outlook, JS Securities Limited provided strategic insights into specific entities:

DGKC: The firm closed above the 50-DMA, and the strategy moving forward involves 'Buy on dips', targeting Rs49.64 and Rs51.84, with a suggested stoploss at Rs47.12.

ENGRO: Demonstrating a consistent uptrend, the strategic recommendation is to 'Buy on dips', setting targets at Rs260.00 and Rs272.07, and a stoploss at Rs253.67.

The present recommendations and strategies emphasize a carefully optimistic approach, acknowledging the present bullish trend while also advising preparedness for potential shifts in the market. By ensuring strategic planning, JS Securities Limited supports investors in navigating the present market conditions, balancing opportunities for gain with precautionary measures to mitigate potential losses.