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pk - UAN: 111 900 400

TECHNICAL OUTLOOK
Wednesday, June 12, 2024

VOL
Close S2 S1 PIVOT R1 R2 14-RSI 8-DEMA 21-DEMA 50-DSMA 100-DSMA 200-DSMA
(MN)
KSE-100 Index 76,208.2 341.9 72,283.7 74,245.9 75,292.0 77,254.3 78,300.4 64.2 74,195.8 74,079.0 72,458.7 68,115.1 61,341.3
-27.0%
77500
77000
76500
76000
75500
75000
74500
38.2% 74000
73500
61.8% 73000
72500
72000
71500
71000
70500
70000
69500
69000
68500
68000
67500
67000
66500
66000
65500
65000
64500
64000
63500
63000
62500
62000
61500
61000
60500
60000
59500
59000
58500
58000

40000

35000

30000

25000

20000

15000

10000
x10000
22 29 5 12 19 26 4 11 18 25 1 8 15 22 29 6 13 20 27 3 10 17 24
February March April May June

Bourse Welcome New Budgetary Measures;

The benchmark KSE-100 surged 3410 Pts. with traded volume 341.9 million greater than previous multi volume bars, RSI
noted 64.2 Pts. On hourly chart bourse opened with gap up post high of (76,338) and test low of (73,329) finally closed on
(76,208) moving ahead resistances would be 76,585, 76,885, 77,055 on flip side supports are 75,870, 75,580, 75,365.

On daily chart a wide spread up bar close off the high with high volume relative to volume histogram suggesting demand
overcoming supply or effort to mark up price a sign of strength for continuation session ahead must close positive trade with
cautious stance, Bourse witness gap up opening with strong bullish candle surpass all moving averages on chart & close near
historic high (76,338) consolidation above will extend gains towards (76,585) followed by (76,885) & (77,055) on flip side
rejection from historic top (76,338) & consolidation below 76K will drag price towards (75,580) followed by (75,065) &
(74,880), Currently price structure again violated previous top (76,248) consolidation above will start an other impulsive
move we are still in wave “C” strategy should be buy on weakness with stop loss below 8-DEMA(74,195) on Closing basis, RSI
surpass 60 Pts. Level in single day heading towards 70 Pts. Saturation above will increase bullish volatility on flip side bears
require reading below 50 Pts., Individual stocks perform according to their technical levels & sectoral behavior.

On weekly chart a wide spread down bar close towards the middle of the bar with below the average volume suggesting
supply overcoming demand yet has neutral impact over price move, moving forward consolidation above 8-WEMA(73,305)
will open doors towards recent to (76,248) on flip side trading below 8-WEMA will drag price towards (72,585) followed by
(71,865).

Supports: 75,870, 75,580, 75,365, 75,065, 74,880, 74,565, 74,335, 74,065, 73,875, 73,585
Resistances: 76,585, 76,885, 77,055, 77,365, 77,580, 77,875, 78,075, 78,335, 78,590, 78,895

HCAR: Buy On Weakness With Stop Loss Below 302.45 Targets Are 312.95, 316.45, 319.95
PPL: Buy On Weakness With Stop Loss Below 116.35 Targets Are 124.80, 126.35, 128.25
AIRLINK: Buy On Weakness With Stop Loss Below 76.50 Targets Are 79.45, 80.55, 81.65
AVN: Buy On Weakness With Stop Loss Below 54.60 Targets Are 56.70, 57.55, 58.35
CPHL: Buy On Weakness With Stop Loss Below 28.20 Targets Are 29.80, 30.30, 30.90
NPL: Continue To Surge Trail Stop Loss Below 37.50 Targets Are 39.70, 40.40, 41.45
NML: Sell On Strength With Stop Loss Above 72.30 Targets Are 70.10, 69.50, 68.65
HTL: Sell On Strength With Stop Loss Above 33.30 Targets Are 30.70, 30.00, 29.35
NBP: Sell On Strength With Stop Loss Above 38.35 Targets Are 36.65, 36.00, 35.45
HUMNL: Sell On Strength With Stop Loss Above 11.60 Targets Are 10.45, 10.10, 9.85

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. 309.0 2.2 261.8 285.4 298.3 321.9 334.8 55.7 303.2 303.3 287.7 257.0 215.8
Millat Tractor Ltd. 662.0 0.4 642.0 652.0 658.0 668.0 674.0 70.8 648.0 632.7 611.8 589.3 548.2

COMMERCIAL BANKS
Bank Alfalah Ltd. 60.9 1.3 54.4 57.7 59.3 62.6 64.2 54.5 59.1 59.8 58.5 55.5 49.1
Bank Al-Habib Ltd. 102.3 1.1 94.4 98.4 100.7 104.6 107.0 61.5 99.0 98.9 95.6 89.7 76.7
Habib Bank Ltd. 109.5 5.6 102.6 106.1 108.2 111.7 113.8 45.6 108.0 110.4 112.2 112.2 107.8
MCB Bank Ltd. 214.6 1.6 195.1 204.9 209.8 219.5 224.4 60.9 203.7 204.9 207.5 198.0 175.2
National Bank Of Pakistan 37.1 10.2 31.9 34.5 36.1 38.8 40.4 40.1 37.4 38.6 40.2 35.2 31.0
United Bank Ltd. 232.4 1.9 212.3 222.4 228.1 238.2 244.0 76.0 221.6 216.6 203.8 193.8 177.7

CABLE & ELECTRIC

Pak Elektron Ltd. 25.9 16.2 23.5 24.7 25.3 26.5 27.1 55.6 24.8 25.1 24.5 23.4 19.4

CEMENT
D. G. Khan Cement Co. Ltd. 95.3 17.4 86.6 91.0 93.3 97.7 100.1 67.9 89.1 86.9 80.4 74.8 67.5
Fauji Cement Co Ltd. 24.1 39.8 21.9 23.0 23.6 24.7 25.3 64.2 22.7 22.3 21.0 19.4 17.2
Lucky Cement Ltd. 957.3 1.1 867.1 912.2 937.1 982.1 1,007.0 74.6 912.4 894.9 852.8 799.0 734.8

CHEMICALS
Engro Polymer & Chem. Ltd. 44.0 0.8 43.1 43.6 44.0 44.5 44.9 55.2 43.7 43.6 44.0 44.8 44.2

ENGINEERING
International Steels Ltd. 87.3 1.6 83.6 85.4 86.9 88.7 90.2 61.8 84.4 82.4 76.3 72.5 65.7

FERTILIZER
Engro Fertilizers Ltd. 164.9 1.8 153.9 159.4 162.5 168.1 171.2 67.6 159.5 157.6 155.3 145.1 119.4
Engro Corporation Ltd. 331.4 0.6 317.8 324.6 329.8 336.6 341.8 44.4 327.1 334.2 351.4 338.9 308.9
Fauji Fertilizer Co. Ltd. 145.2 2.3 135.0 140.1 143.2 148.2 151.3 58.2 139.5 140.4 140.5 128.5 116.6

OIL & GAS EXPLORATION

Mari Petroleum Co. Ltd. 2,685.1 0.1 2,533.2 2,609.1 2,655.0 2,730.9 2,776.8 49.4 2,636.5 2,687.1 2,695.1 2,533.5 2,146.0
Oil & Gas Dev. Company Ltd. 129.3 17.6 118.8 124.0 126.6 131.9 134.5 49.2 125.1 129.0 131.5 129.7 117.9
Pakistan Oilfields Ltd. 481.7 0.3 463.1 472.4 478.2 487.5 493.3 53.1 475.6 478.9 466.8 446.9 436.3
Pakistan Petroleum Ltd. 122.9 15.4 113.7 118.3 120.7 125.3 127.7 59.5 116.9 117.9 116.8 114.8 103.0

OIL & GAS MARKETING

Pakistan State Oil Co Ltd. 171.6 3.4 159.5 165.6 169.1 175.2 178.8 51.0 166.7 170.1 175.3 170.9 160.9
Sui North. Gas Pipe Line Ltd. 64.9 4.2 60.9 62.9 64.1 66.1 67.3 47.4 63.3 65.2 66.4 66.3 61.8
Sui South. Gas Co Ltd. 9.9 0.5 9.4 9.7 9.8 10.1 10.2 41.0 9.8 10.1 10.5 10.9 10.8

PHARMACEUTICAL
The Searle Company Ltd. 61.2 17.0 57.6 59.4 60.9 62.7 64.3 60.8 58.8 58.2 57.4 54.4 50.5

POWER GEN. & DIST.

Hub Power Company Ltd. 144.8 5.1 136.5 140.7 143.3 147.5 150.1 66.8 140.3 139.0 134.5 124.9 114.0
Kot Addu Power Co. Ltd. 31.6 1.4 30.7 31.1 31.7 32.2 32.7 52.3 31.5 31.5 30.2 29.6 28.3

TECH. & COMMUNICATION

TRG Pakistan Ltd. 64.5 5.7 61.9 63.2 64.5 65.8 67.1 49.1 64.1 64.5 66.2 69.4 77.2

TEXTILE COMPOSITE
Nishat Mills Ltd. 71.1 2.9 66.7 68.9 70.2 72.4 73.7 48.5 71.2 71.5 70.7 70.8 70.2

REFINERY
Attock Refinery Ltd. 369.7 1.0 341.6 355.6 364.1 378.1 386.6 47.2 361.3 371.3 386.8 360.8 325.5
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
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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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