KSE100 Index Set To Retrace

The KSE100 Index is currently exhibiting a trend rejection, evident from its recent performance, particularly in the last two trading sessions characterized by lackluster volume and a decline in the index value. Consequently, a further downward movement is anticipated. In light of this observation, it is advisable to capitalize on profits by liquidating positions in stocks acquired during dips. Additionally, investors may contemplate acquiring shares at lower prices to optimize their average cost in the event of a subsequent rebound. Notably, the support level for the index is situated around 64,800, and its ability to maintain this level is crucial for initiating a potential recovery. Recommended stocks which can be accumulate on dip are DGKC, MLCF, PRL, ATRL, HCAR, EFERT, KEL, PPL, OGDC, PSO, FFC, SYS, FCCL, POL, MTL & HUBC.

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