KSE-100 Index (Last: 14564.68, up 52.61 points)
The Index is likely to move higher today, after registering
gains yesterday. Major support remains at 14500 while 14700 is the resistance.
OGDC is ready for an upward breakout. The stock is showing
consolidation in the range of 150-172 for the past six months and we believe
time is ripe for the stock to muster strength and breach this level on the
upside to target historic highs in the region of Rs 180-200 area. Near term
support is placed at Rs 167. We recommend buying the stock on weakness.
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