KASB Securities Limited and Economics Research – The Keystone – Equities

Karachi, April 03, 2015 (PPI-OT): KSE-100: Another closing above 200DMA needed

Another bull run for the index where it formed a higher high and closed above its 200DMA.
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For the index to continue its bullish trend, it has to give a sustainable closing above 200DMA for another trading session. If it fails to do so, it could retest 28,500.
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The index is now facing a strong resistance at 31,800 which is its 20DMA.
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It is recommended to exercise caution at current levels and wait for the sustainable closing.

First support 31,000 points, second support 30,650 points;

First resistance 31,350 points, second resistance 31,800 points

Stock    Strategy        Target  Stop loss
EFOODS  Buy  at   111      117       106
LUCK    Sell at   470      450       478
BAFL    Buy  at 24.60    27.80  Day close below 23.50
OGDC    Buy  at   175      205       170
PPL     Buy  at   147      180       144
HBL     Buy  at   178      195       172
ENGRO   Buy  at   260      269       256
POL     Buy  at   320      360       310
PSO     Buy  at   354      370       347

Source: KASB Technical Research

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