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JS Securities Limited – Pakistan Market: Technical Outlook

Karachi, October 16, 2015 (PPI-OT): Restricted upside at the 50-DMA; stay cautious

Resistance continued at the 50-DMA as the KSE-100 index lost 53 points to close at 33,922 with low volumes of 145mn shares. The index is expected to target the 200-DMA at 33,682; followed by the 30-DMA at 33,346. However, any upside will continue to face resistance at the 50-DMA which stands at 34,068. Meanwhile, the RSI has moved down and the Stochastic Oscillator has generated a sell signal, signaling a negative trend ahead. A cautious approach is required at current levels. The support and resistance for the day stands at 33,780 and 34,064, respectively.
TTTT
Symbol Strategy S1 PIVOT R1

OGDC Sell on Strength; stoploss 138.80 133.54 136.17 137.84

POL Sell below 327.11 325.13 329.55 332.00

PSO Buy on dips; stoploss 50-DMA 328.99 331.19 332.39

HUBC Stay long above 102.05 101.93 102.57 103.13

MCB Sell below 239.19 238.41 240.21 241.22

PTC Stop buying below 18.50 18.40 18.66 18.82

ENGRO Sell on Strength; target 294.92 304.63 308.21 310.51

DGKC Stay long above 142.79 144.18 145.33 146.10
ETTT
TTTT
Symbol Strategy
Close High Low S2 S1 PIVOT R1 R2 14 Days 7 Days 30 Days 50 Days 200 Days

Oil and Gas
APL Sell on Strength; stoploss 30-DMA 523.50 525.00 520.00 517.83 520.67 522.83 525.67 527.83 45.50 42.04 525.47 538.95 545.00
OGDC Sell on Strength; stoploss 138.80 135.21 138.80 134.50 131.87 133.54 136.17 137.84 140.47 48.70 51.25 135.53 140.78 179.50
POL Sell below 327.11 327.57 333.98 327.11 322.68 325.13 329.55 332.00 336.42 56.03 62.22 315.40 327.58 362.51
PPL Sell on Strength; target 127.67 133.14 135.51 132.80 131.11 132.12 133.82 134.83 136.53 54.11 58.36 127.67 134.38 160.79
PSO Buy on dips; stoploss 50-DMA 330.18 333.40 330.00 327.79 328.99 331.19 332.39 334.59 60.52 69.45 308.02 326.87 364.83

Banks
ABL Sell below 99.21 99.81 100.25 99.21 98.72 99.26 99.76 100.30 100.80 55.31 62.00 97.86 99.87 104.79
HBL Buy above 208.00 205.70 208.00 205.00 203.23 204.47 206.23 207.47 209.23 48.86 58.76 207.03 212.27 206.06
MCB Sell below 239.19 239.43 242.00 239.19 237.40 238.41 240.21 241.22 243.02 49.78 60.22 239.39 250.58 273.28
NBP Stop buying below 55.91 56.11 57.99 55.91 54.59 55.35 56.67 57.43 58.75 67.72 80.40 52.81 54.05 58.76
UBL Sell on Strength; stoploss164.48 163.55 164.48 161.50 160.20 161.87 163.18 164.85 166.16 55.81 61.60 157.55 164.47 168.27

Fertilizer
ENGRO Sell on Strength; target 294.92 306.94 311.78 305.90 302.33 304.63 308.21 310.51 314.09 45.77 43.09 308.97 317.72 294.92
FFBL Sell on Strength; stoploss 50-DMA 60.09 60.39 59.90 59.64 59.86 60.13 60.35 60.62 46.27 42.69 61.01 61.43 54.22
FFC Sell on Strength 126.40 126.99 126.08 125.58 125.99 126.49 126.90 127.40 45.32 50.83 128.12 133.21 137.80

Power Generation
HUBC Stay long above 102.05 102.50 103.20 102.00 101.37 101.93 102.57 103.13 103.77 53.07 54.51 102.05 101.26 93.65
KAPCO Stop buying below 90.70 91.10 91.50 90.70 90.30 90.70 91.10 91.50 91.90 35.52 23.95 95.67 94.43 86.86

Technology and Comm.
PTC Stop buying below 18.50 18.56 18.92 18.50 18.24 18.40 18.66 18.82 19.08 54.81 67.33 18.09 18.88 21.66

Cement
DGKC Stay long above 142.79 144.95 146.48 144.56 143.41 144.18 145.33 146.10 147.25 57.82 65.34 138.99 142.79 133.97
LUCK Buy on dips; stoploss 50-DMA 542.94 544.95 539.03 536.39 539.66 542.31 545.58 548.23 53.93 52.95 532.73 538.11 510.80
MLCF Stay long above 50-DMA 72.72 73.75 72.20 71.34 72.03 72.89 73.58 74.44 57.72 65.49 69.16 71.31 64.24

Textile
NML Buy on dips; stoploss 99.26 102.14 102.50 99.26 98.06 100.10 101.30 103.34 104.54 50.22 58.17 101.25 106.29 115.03
NCL Buy above 39.00 38.69 39.00 37.81 37.31 38.00 38.50 39.19 39.69 53.62 55.29 37.76 38.55 39.76

Refinery
ATRL Sell below 30-DMA 202.41 205.70 200.00 197.00 199.71 202.70 205.41 208.40 50.15 55.62 199.69 209.85 205.69
NRL ell below 232.00 235.18 239.80 232.00 227.86 231.52 235.66 239.32 243.46 54.96 60.82 228.87 238.99 219.19

Chemicals
ICI Sell on Strength; stoploss 512.00 505.03 512.00 499.98 493.65 499.34 505.67 511.36 517.69 51.63 51.66 501.09 508.33 457.54
LOTCHEM Stay long above 6.89 7.03 7.18 7.00 6.89 6.96 7.07 7.14 7.25 54.53 63.30 6.75 7.23 6.89

Miscellaneous
AICL Stop selling above 56.60 55.97 56.60 55.70 55.19 55.58 56.09 56.48 56.99 53.87 57.85 54.84 55.85 51.09
EFOODS Sell below 161.60 161.89 163.88 161.60 160.18 161.03 162.46 163.31 164.74 60.33 69.30 153.84 159.01 142.40
ETTT

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