Karachi: Despite a minute intra-day violation, the index managed to hold its immediate support around 11869 level yesterday. Recovery can be anticipated towards 12097~12133 area.
Failure to sustain 11869 would expose deeper support within 11782~11766 levels. Keeping faith with encouraging signals on weekly momentum data (MACD, RSI,STS), and short-term base intact in 11685~11500, we continue to aim for strength towards 12466 and 12764 levels.
Traders are suggested to capitalize at weakness. Preferred stocks include PSO, OGDC, ENGRO, NML, PTC, DGKC, UBL, NBP, and MCB.
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