KSE-100: Faces a bearish session, (AKD Technical Daily Sep 30 2022)
AKD Daily Technicals
KSE-100: Faces a bearish session
Market View — Technical
The index opened with a negative bias and remained bearish throughout the last trading session. The local bourse posted an intraday low of 526pts and concluded with a loss of 421pts to settle at 41,041pts. The volumes clocked in the last trading session were lower than the previ-ous trading session. The Index is currently trading below minor moving averages on daily chart. The MACD is bearish since it is trading below its signal line. The MACD crossed below its signal line. Since the MACD crossed its moving average the Index has decreased 3.51% and has ranged from a high of 43,052 to a low of 40,417.
The chart formation depicts that the index may find initial support near 40,800. A break below mentioned support can result into further weakness towards 40,500 and 40,200pts level. Alternatively, the index can face resistance near 41,400pts initially and then head towards 41,700 and 41,900 area. It is recommended to accumulate positions on weakness with risk defined below support zone.
AKD Research
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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