News Column

KASB Securities Limited and Economics Research - The Keystone - Equities

May 13, 2014

KSE-100: Heading south towards 50DMA

The index witnessed a dull session and closed in red, with the volumes sliding to a seven month low.

The index attempted to break its 20DMA but failed. A strong support is now at 28,280-28,300 area (double bottom). KASB Securities Limited believes the index will fail to hold that area and test its 50DMA which is at 27,800.

Furthermore, RSI in daily charts is also suggesting continuation of downtrend which supports KASB Securities Limited's view of index heading south towards its 50DMA.

It is recommended to exercise caution at the current levels.

First support 28,300 points, second support 28,000 points;

First resistance 28,650 points, second resistance 28,900 points

Stock Strategy Target Stop loss

LUCK Sell at 348.5 343.0 354.0

FABL Sell at 16.4 15.7 16.8

NML Buy at 107.0 111.0 106.0

PTC Buy at 28.0 29.9 27.5

BOP Buy at 10.3 11.2 10.0

OGDC Sell at 253.0 257.0 249.0

ENGRO Sell at 194.0 187.0 197.0

DGKC Buy at 86.4 89.0 85.0

Source: KASB Technical Research

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Pakistan Press International