AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Islamabad: The Pakistan Stock Exchange’s benchmark KSE-100 index is predicted to consolidate after reaching a peak of 159,338, closing at 158,037, an 84-point increase day-over-day. Trading volume reached 2,048 million shares, surpassing the previous session’s 1,959 million. Analysts anticipate the index will encounter resistance between 158,300 and 159,340. A surge beyond this band could propel the index towards 159,953 and even 161,274. Conversely, support levels are identified between 157,260 and 157,530.
Positive indicators like the rising RSI and Stochastic Oscillator suggest a bullish trajectory. Experts advise investors to capitalize on market dips, purchasing stocks at lower prices, but caution against losses below 156,978. Key support and resistance levels are situated at 157,260 and 159,075, respectively.
Elsewhere, ISL is projected to experience further correction. A “sell on strength” strategy is recommended, targeting Rs119.00 and Rs115.22, with a stop-loss order at Rs127.50. Meanwhile, ATRL is expected to find support from moving averages. A “buy on dips” approach is suggested for ATRL, targeting Rs681.00 and Rs685.50, with a stop-loss at Rs661.70.