KSE Predictions

Fluctuating within a range of 100 point , yesterday KSE 100 index maintained its bullish momentum. The volume also expanded 55.7 percent . So it’s a healthy sign. DGKC was the leader on turnover of 19.71mn shares, JSCL (17.85mn), OGDC (15.82mn), LUCK (12.19mn) and UBL (11.45mn). Yesterday, more of a balance was witnessed between the demand and supply forces. Though, despite negative divergence observed on 14-day RSI, the market action above its short-term averages keeps the immediate outlook positive. For today, sustainability above 7,790-7,750 should look for 7,914-7,942 levels, resistance can come up around 8000 level. Failure to do so, would put focus at 7700 levels.

Preferred Stocks: DGKC, OGDC,ENGRO,FFC,NML PSO, AICL and ANL