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pk - UAN: 111 900 400

TECHNICAL OUTLOOK
Tuesday, April 30, 2024

VOL
Close S2 S1 PIVOT R1 R2 14-RSI 8-DEMA 21-DEMA 50-DSMA 100-DSMA 200-DSMA
(MN)
KSE-100 Index 71,695.0 281.4 70,501.8 71,098.4 72,199.6 72,796.2 73,897.4 70.4 71,509.0 69,805.9 66,320.7 64,957.1 57,147.0

75000
74000
73000
72000
-61.8% 71000
70000
69000
68000
67000
66000
65000
64000
38.2%
63000
62000
61.8%
61000
60000
59000
58000
57000
56000
55000
54000
53000
52000
51000
50000
49000
48000
47000
46000
45000

10000
9000
8000
7000
6000
5000
4000
3000
2000
x100000
2 9 16 23 30 6 13 20 27 4 11 18 26 1 8 15 22 29 5 12 19 26 4 11 18 25 1 8 15 22 29 6 13
October November December 2024 February March April May

KSE-100 Witness Hidden Upthrust Bar Stay Cautious;

The benchmark KSE-100 plummeted 1047 Pts. with traded volume 281.4 million less than previous volume bar, RSI noted
70.4 Pts. On hourly chart bourse opened with positive note post high of (73,300) and test low of (71,602) finally closed on
(71,695) moving ahead resistances would be 71,855, 72,075, 72,380 on flip side supports are 71,385, 71,092, 70,865.

On daily chart a wide spread down bar close off the low with descending volume relative to the volume histogram signaling
hidden upthrust bar a swear sign of weakness trade with extreme cautious, Bourse witness bearish session after bullish streak
with bearish engulfing pattern also face rejection near (0.27) extension (73,205) of ascend (44,459 to 67,094) moving forward
(71,092) would be initial support followed by (70,865) & (70,580) on flip side consolidation above 8-DEMA(71,508) will push
price towards (72,075) followed by (72,380) & (72,585), Currently price face sharp drop now a bearish flag require to confirm
completion of minor degree wave “B” & initiation of minor degree Wave “C” if happen strategy should be sell on strength
with stop loss above Recent top (73,300), RSI sharply drop heading towards 70 Pts. Saturation below will fade bullish
momentum & below 50 Pts. Bears can gain strength, Individual stocks perform according to their technical levels & sectoral
behavior.

On weekly chart a wide spread up bar close off the high with ascending volume relative to volume histogram suggesting
demand overcoming supply a sign of strength heading towards (73,365) consolidation above will push price towards (73,885)
followed by (74,335) on flip side saturation below (72K) will drag price towards (71,585) followed by (71,092).

Supports: 71,385, 71,092, 70,865, 70,580, 70,365, 70,037, 69,835, 69,580, 69,325, 69,065, 68,835
Resistances: 71,855, 72,075, 72,380, 72,585, 72,875, 73,045, 73,365, 73,580, 73,885, 74,065, 74,335

OGDC: Buy On Weakness With Stop Loss Below 129.70 Targets Are 135.95, 138.40, 140.35
AVN: Buy On Weakness With Stop Loss Below 58.15 Targets Are 61.90, 62.75, 63.85
GAL: Buy On Weakness With Stop Loss Below 117.30 Targets Are 124.90, 126.85, 129.75
SEARL: Buy On Weakness With Stop Loss Below 54.80 Targets Are 57.55, 58.70, 59.65
UNITY: Buy On Weakness With Stop Loss Below 24.50 Targets Are 25.95, 26.65, 27.45
TPLP: Buy On Weakness With Stop Loss Below 10.75 Targets Are 11.60, 11.95, 12.25
TOMCL: Sell On Strength With Stop Loss Above 38.20 Targets Are 35.80, 35.05, 34.45
FABL: Sell On Strength With Stop Loss Above 42.50 Targets Are 39.00, 38.30, 37.45
FCCL: Sell On Strength With Stop Loss Above 21.15 Targets Are 19.60, 19.30, 18.80
PAEL: Sell On Strength With Stop Loss Above 24.15 Targets Are 22.60, 22.10, 21.45

Notified Research Entity | DISCLAIMER - For important disclaimer and contact details, see the last page of the report Best Retail Brokerage 2020 Page No. 1
 www.darson.com.pk - UAN: 111 900 400

TECHNICAL OUTLOOK
VOL
Company Close S2 S1 PIVOT R1 R2 14-RSI 8-DEMA 21-DEMA 50-DSMA 100-DSMA 200-DSMA
(MN)
KSE-30 UNIVERSE
AUTOMOBILE ASSEMBLERS
Honda Atlas Cars (Pak) Ltd. 321.8 3.6 303.9 312.8 325.9 334.8 347.9 85.4 288.6 260.6 233.6 231.7 187.4
Millat Tractor Ltd. 596.4 0.1 585.5 590.9 600.5 605.9 615.5 49.6 607.9 600.2 587.4 583.9 516.0

COMMERCIAL BANKS
Bank Alfalah Ltd. 58.6 0.5 57.0 57.8 58.8 59.6 60.6 65.7 57.7 56.1 54.5 51.9 45.8
Bank Al-Habib Ltd. 95.1 0.4 92.8 94.0 95.6 96.8 98.5 69.6 92.4 89.3 85.1 83.9 69.4
Habib Bank Ltd. 116.7 5.6 113.6 115.1 117.0 118.5 120.4 62.7 116.1 113.4 111.8 113.9 104.6
MCB Bank Ltd. 211.1 0.5 206.8 209.0 212.0 214.1 217.1 59.9 211.9 208.1 199.7 188.8 164.9
National Bank Of Pakistan 39.9 4.0 38.5 39.2 40.5 41.2 42.4 50.5 42.3 40.8 34.8 33.5 28.5
United Bank Ltd. 198.9 1.3 195.6 197.3 199.1 200.8 202.6 63.5 199.3 193.6 187.1 184.1 167.5

CABLE & ELECTRIC

Pak Elektron Ltd. 23.0 6.9 22.3 22.7 23.1 23.4 23.8 52.7 23.0 22.8 22.5 22.3 17.1

CEMENT
D. G. Khan Cement Co. Ltd. 76.8 17.1 72.9 74.8 78.3 80.2 83.7 64.9 75.1 71.8 68.7 72.3 62.6
Fauji Cement Co Ltd. 20.0 12.5 19.0 19.5 20.3 20.8 21.6 59.7 20.2 19.4 18.2 18.6 15.7
Lucky Cement Ltd. 846.7 0.1 824.4 835.5 853.1 864.2 881.8 65.2 834.7 807.5 767.9 770.7 690.1

CHEMICALS
Engro Polymer & Chem. Ltd. 43.4 0.8 42.7 43.0 43.7 44.0 44.6 36.6 44.5 44.9 44.7 46.1 44.3

ENGINEERING
International Steels Ltd. 69.3 0.6 68.2 68.7 69.6 70.2 71.1 47.9 70.4 70.2 68.4 70.5 60.6

FERTILIZER
Engro Fertilizers Ltd. 160.1 3.4 152.7 156.4 163.2 166.9 173.7 57.0 162.1 155.9 146.5 131.5 107.8
Engro Corporation Ltd. 368.2 1.4 360.1 364.2 371.0 375.1 381.9 62.7 365.8 360.9 343.7 327.8 296.1
Fauji Fertilizer Co. Ltd. 144.7 4.6 138.4 141.5 146.0 149.1 153.6 71.1 142.7 136.7 124.7 120.3 109.8

OIL & GAS EXPLORATION

Mari Petroleum Co. Ltd. 2,768.3 0.1 2,704.1 2,736.2 2,768.1 2,800.2 2,832.1 68.5 2,750.2 2,650.3 2,480.7 2,330.1 1,970.2
Oil & Gas Dev. Company Ltd. 134.2 5.4 131.1 132.7 135.5 137.0 139.9 58.8 134.3 130.7 125.2 126.0 112.0
Pakistan Oilfields Ltd. 445.6 0.2 441.2 443.4 446.7 448.9 452.1 53.7 450.1 445.0 430.8 433.0 429.9
Pakistan Petroleum Ltd. 112.1 6.2 110.0 111.0 113.0 114.0 116.0 51.3 112.9 111.9 110.0 114.4 95.5

OIL & GAS MARKETING

Pakistan State Oil Co Ltd. 176.9 0.5 173.3 175.1 177.8 179.6 182.3 51.7 179.4 177.0 169.0 175.2 153.3
Sui North. Gas Pipe Line Ltd. 67.0 3.2 64.9 65.9 67.0 68.0 69.1 59.0 66.4 65.3 64.6 68.4 58.4
Sui South. Gas Co Ltd. 10.8 2.7 10.6 10.7 10.9 11.0 11.2 46.2 11.0 11.0 11.0 11.6 10.7

PHARMACEUTICAL
The Searle Company Ltd. 56.6 4.0 55.6 56.1 56.9 57.3 58.1 52.5 57.1 56.4 53.6 54.1 48.5

POWER GEN. & DIST.

Hub Power Company Ltd. 132.6 13.6 124.9 128.8 135.4 139.2 145.8 62.3 132.9 128.4 120.1 119.2 105.4
Kot Addu Power Co. Ltd. 26.8 2.0 26.5 26.7 27.0 27.1 27.4 37.6 27.3 27.6 28.3 29.0 27.1

TECH. & COMMUNICATION

TRG Pakistan Ltd. 68.9 4.3 67.0 67.9 69.5 70.4 72.0 45.0 70.1 70.1 71.0 76.2 83.1

TEXTILE COMPOSITE
Nishat Mills Ltd. 68.3 2.9 63.9 66.1 69.7 71.9 75.5 45.9 71.1 69.7 68.5 73.5 69.1

REFINERY
Attock Refinery Ltd. 396.8 1.4 386.7 391.8 400.2 405.2 413.6 55.8 403.4 393.7 363.6 346.6 302.4
Data Source: PSX

Page No. 2
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TREC HOLDR: PAKISTAN STOCK EXCHANGE / PAKISTAN MERCANTILE EXCHANGE LTD.
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Risk Associated with Target Price: Any inability to compete successfully in their markets may harm the business. This could be a result of many factors which may include
geographic mix and introduction of improved products or service offerings by competitors. The results of operations may be materially affected by global economic conditions
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Rating System:
If;
• Expected return >15% - Buy Call
• Expected Return is in between 0% to 15% - Neutral/Hold Call
• Expected Return <0% - Sell Call

Valuation Methodology
To arrive at our period end target prices, DSL uses
different valuation methodologies including:

• Discounted cash flow (DCF, DDM)

• Justified price to book (JPB)
• Relative Valuation (P/E, P/B, P/S etc.)
• Equity & Asset return based methodologies (EVA, Residual Income etc.)

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