KSE-100 Index Trend Score

KSE-100 Index (Last: 14512.07, down 15.18 points)

The Index ended the day in red for the fourth day in a row. Modest losses (84 points in four trading days) coupled with low velocity on the downside is indicating the strength of the uptrend. Yesterday’s price action was also supportive to bulls in general as the Index dipped below 14500 before ending the day above the support level.

We expect gains in the short term and our target level is 14700. Our top picks for the day are AICL, DGKC, JSCL, MCB, NBP and OGDC. We recommend buying in these stocks. The ideal buying price should be below yesterday’s closing price and a protective stoploss must be placed at 2% below the purchase price.