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KASB Securities Limited and Economics Research - The Keystone - Equities

May 22, 2014



KSE-100: Targeting the region below 20DMA

- The index dropped slightly towards its 20DMA. Majority of today's volumes were seen in third tier stocks.

- The index could now fall towards 28,300 (lower bound of the current range of 28,300-29,000) as it failed to give an upside breakout of 29,000.

- RSI in the daily chart has also formed a double top at 59% which suggests a downward move.

- Oil and gas sector (PSO, PPL and POL) is still looking weak at these levels.

- It is recommended to exercise caution at current levels.

First support 28,650 points, second support 28,500 points;

First resistance 29,000 points, second resistance 29,150 points

Stock Strategy Target Stop loss

UBL Buy at 164.5 169.0 161.5

LPCL Buy at 14.2 14.8 13.8

DGKC Buy at 85.8 89.0 84.8

MCB Buy at 288.0 293.0 283.0

PSO Sell at 392.0 386.0 396.5

NML Sell at 110.5 107.0 114.0

BAFL Buy at 27.4 28.3 26.6

PPL Sell at 219.0 215.0 222.0

ENGRO Sell at 199.0 195.0 203.0

Source: KASB Technical Research


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Source: Pakistan Press International


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