KSE-100_Bounces from 50-SMA, (AKD Technical Daily May 06, 2022)
AKD Daily Technicals
KSE-100: Bounces from 50-SMA
- The index opened with a negative note and remained bearish throughout the last trading session. The Index posted an intraday low of 885pts and concluded with a loss of 284pts to settle at 45,249pts level. A sharp recovery witnessed after testing 50-SMA during intraday trading. The index recovered majority of loses but could not manage to close in green. The volumes reflected in the last trading session were comparatively higher than the previous trading session.
- The chart formation depicts that the index may find initial support near 44,950. A break below mentioned support can result into further weakness towards 44,650 and 44,300pts level. Alternatively, the index can face resistance near 45,500pts initially and then head towards 45,800 and 46,100 area. It is recommended to accumulate positions on weakness and trade with a cautious approach while use stop loss during intraday trading.
AKD Research
Co. is engaged in the production and sale of Ordinary Portland and Sulphate Resistant Cements.
AKD Securities Ltd. is one of the leading securities firm in Pakistan, providing a comprehensive range of investor focused services, including equity brokerage, economic and securities research, investment banking and financial advisory services. AKD Securities accounts for more than 6% of the average daily value of the Karachi Stock Exchange. AKD Securities was the first brokerage house to launch an online trading platform in Pakistan in November 2002 and now has the largest market share with over 6000 customers. This has helped diversify and expand the retail investor base in the country and ushered in a whole new universe of investors to the stock market.
AKD Securities Ltd. caters to a diversified group of domestic and international institutional investors, high net worth individuals and upscale retail clients, including expatriate Pakistanis. With high quality research, unparalleled execution and distribution capability for both regular and large block trades, AKD Securities Ltd. has earned an outstanding reputation in the Pakistani securities industry.Outside of commercial banks, AKD Securities Ltd. is one of the biggest capital market firms in the country. AKD Securities is the leader in raising and providing risk capital in underwriting, market making and mergers and acquisitions in Pakistan. Good corporate governance and professionalism are emphasized throughout the firm and AKD Securities Ltd. is amongst the very few companies to have introduced a firm-wide comprehensive CODE of ETHICS, overseen by an independent compliance manager.Ultimately, our success is based on the quality of service we provide to our customers and the trust and confidence reposed in us by them. Our focus, therefore, remains on customer satisfaction at all levels in the company.
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