July 07, 2017

Pakistan Market: Technical Outlook KSE-

KSE-100 Index: 44,823.12 (-
(-590.30)

KSE-
KSE-100 - Slide to continue; Sell on Strength
The KSE-100 index posted a loss of 590 points to close at 44,823. Volumes stood at
147mn shares versus 204mn shares traded previously. The index has currently
formed a lower high and lower low that indicates potential for further downside. The
downside target remains intact at 43,827, with a chance of later extending towards
42,581 (138.2% retracement of the rise from 43,827 to 47,086). However, any upside
will face resistance at yesterdays high of 45,580. The Stochastic Oscillator and the
RSI have moved down, supporting a bearish view. Investors are recommended to
Sell on the higher side, with risk defined above 45,580. The support and resistance
are at 44,304 and 45,348, respectively.

DGKC - 200-DMA looming ahead

Strategy: Sell on Strength - targeting Rs197.05 & Rs188.47; stoploss at Rs217.60.
HBL - Downtrend intact
Strategy: Sell on Strength - targeting Rs235.00; stoploss at Rs260.11.
raheel.ashraf@js.com
92 (21) 111-574-111 Ext. 3098

KSE-100 Open High Low Close Market Volume (mn shares) Symbol Strategy S1 PIVOT R1

06-07-2017 45,385.90 45,579.95 44,560.21 44,823.11 146.62 PPL Sell below 153.55 153.45 156.98 160.40

05-07-2017 45,408.68 46,358.26 45,152.63 45,413.42 204.26 POL Sell on Strength; stoploss 200-DMA 452.39 461.20 467.89

PSO Sell on Strength; stoploss 382.50 369.27 375.88 381.67

R3 R2 R1 PIVOT S1 S2 S3 MCB Sell on Strength; stoploss 207.99 199.19 203.59 207.18

45,922.50 45,582.13 45,348.08 44,987.76 44,304.21 44,076.73 43,750.04 NBP Sell on Strength; stoploss 59.39 57.89 58.64 59.23

PTC Sell on Strength; stoploss 14.48 14.06 14.27 14.38

7-DRSI 14-DRSI SO 5-DMA 30-DMA 200-DMA ENGRO Sell on Strength; stoploss 321.80 312.31 317.05 321.86

31.83 33.67 32.99 45,372.26 48,595.89 46,792.76 LUCK Sell on Strength; stoploss 774.00 738.54 756.27 770.54

Disclaimer:
This report has been prepared for information purposes by the Research Department of JS Global Capital Ltd. The information and data on which this report is based are obtained from sources which we believe to be reliable but we do not
guarantee that it is accurate or complete. In particular, the report takes no account of the investment objectives, financial situation and particular needs of investors who should seek further professional advice or rely upon their own judgment
and acumen before making any investment. This report should also not be considered as a reflection on the concerned companys management and its performances or ability, or appreciation or criticism, as to the affairs or operations of such
company or institution. Warning: This report may not be reproduced, distributed or published by any person for any purpose whatsoever. Action will be taken for unauthorized reproduction, distribution or publication.

Research Entity Notification Number: REP-084 JS Global Capital Limited | 6th Floor, Faysal House, Main Shahrah-e-Faisal, Karachi | Tel: 92-21-111-574-111 | Research: js.research@js.com
www.JamaPunji.pk
Pakistan
PakistanMarket:
Market:Technical Outlook
Technical Outlook July 07, 2017 Page 2
6-Jul Support and Resistance RSI Moving Averages
Symbol Strategy
Close High Low S2 S1 PIVOT R1 R2 14 Days 7 Days 30 Days 50 Days 200 Days

Oil & Gas

APL Sell on Strength; stoploss 610.00 603.32 610.00 600.00 594.44 598.88 604.44 608.88 614.44 29.41 24.99 662.64 664.75 641.45
OGDC Sell on Strength; stoploss 142.48 140.25 142.48 139.05 137.16 138.71 140.59 142.14 144.02 39.54 43.31 157.91 159.28 153.86
POL Sell on Strength; stoploss 200-DMA 459.09 470.00 454.50 445.70 452.39 461.20 467.89 476.70 43.50 45.59 491.30 483.54 469.33
PPL Sell below 153.55 156.88 160.50 153.55 150.03 153.45 156.98 160.40 163.93 48.23 56.43 164.05 164.92 167.09
PSO Sell on Strength; stoploss 382.50 375.05 382.50 370.10 363.48 369.27 375.88 381.67 388.28 32.20 32.03 423.78 432.61 429.45

Banks
ABL Sell on Strength; stoploss 89.00 85.11 89.00 85.11 82.52 83.81 86.41 87.70 90.30 35.59 33.09 93.33 94.35 102.13
HBL Sell on Strength; stoploss 250.00 247.10 250.00 242.20 238.63 242.87 246.43 250.67 254.23 39.46 36.71 268.26 276.67 260.11
MCB Sell on Strength; stoploss 207.99 202.78 207.99 200.00 195.60 199.19 203.59 207.18 211.58 40.11 40.52 217.51 223.62 227.57
NBP Sell on Strength; stoploss 59.39 58.48 59.39 58.05 57.30 57.89 58.64 59.23 59.98 36.50 36.71 63.92 64.79 71.72
UBL Sell on Strength; stoploss 225.99 221.12 225.99 217.00 212.38 216.75 221.37 225.74 230.36 40.08 37.40 235.40 243.51 231.11

Fertilizer
ENGRO Sell on Strength; stoploss 321.80 317.11 321.80 312.25 307.50 312.31 317.05 321.86 326.60 35.66 34.78 353.12 359.79 337.07
FFBL Sell on Strength; stoploss 40.99 39.50 40.99 39.30 38.24 38.87 39.93 40.56 41.62 33.26 35.11 44.64 46.90 51.10
FFC Sell on Strength; stoploss 85.00 80.63 85.00 80.30 77.28 78.95 81.98 83.65 86.68 34.91 36.51 89.98 93.00 103.54

Power Generation
HUBC Sell on Strength; stoploss 30-DMA 117.89 124.40 116.25 111.36 114.63 119.51 122.78 127.66 44.56 47.57 123.37 126.32 124.40
KAPCO Sell on Strength; stoploss 72.50 71.43 72.50 71.03 70.18 70.81 71.65 72.28 73.12 41.24 43.33 74.10 75.26 78.23

Technology & Comm.

PTC Sell on Strength; stoploss 14.48 14.17 14.48 14.16 13.95 14.06 14.27 14.38 14.59 33.46 27.16 15.38 15.66 17.11

Cement
DGKC Sell on Strength; stoploss 211.49 204.66 211.49 202.00 196.56 200.61 206.05 210.10 215.54 37.63 36.86 224.55 230.28 217.60
LUCK Sell on Strength; stoploss 774.00 752.81 774.00 742.00 724.27 738.54 756.27 770.54 788.27 31.02 24.64 853.00 884.59 823.04
MLCF Sell on Strength; stoploss 30-DMA 111.03 112.98 110.00 108.36 109.69 111.34 112.67 114.32 47.01 49.89 112.45 116.33 117.12

Textile
NML Sell on Strength; stoploss 164.95 156.62 164.95 156.29 150.63 153.62 159.29 162.28 167.95 48.24 50.10 161.64 162.72 157.97
NCL Sell below 51.00 51.11 54.75 51.00 48.54 49.82 52.29 53.57 56.04 42.96 46.94 55.25 56.47 58.01

Refinery
ATRL Sell on Strength; stoploss 358.98 344.70 358.98 340.63 329.75 337.23 348.10 355.58 366.45 27.81 23.01 413.38 422.07 413.36
NRL Sell on Strength; stoploss 662.00 629.22 662.00 628.70 606.67 617.95 639.97 651.25 673.27 22.76 14.34 774.55 784.73 684.65

Chemicals
ICI Sell on Strength 1,040.91 1,059.00 1,000.05 974.37 1,007.64 1,033.32 1,066.59 1,092.27 38.41 33.61 1,126.37 1,124.82 998.54
LOTCHEM Sell on Strength; stoploss 9.95 9.70 9.95 9.55 9.33 9.52 9.73 9.92 10.13 39.05 38.28 10.91 11.01 9.60

Miscellaneous
AICL Sell on Strength; stoploss 67.70 67.00 67.70 66.65 66.07 66.53 67.12 67.58 68.17 32.74 27.43 73.44 74.70 69.35
SNGP Sell on Strength; stoploss 146.75 137.72 146.75 137.32 131.17 134.44 140.60 143.87 150.03 36.17 31.24 161.16 160.08 108.70

* Based on unadjusted prices Page 2