Report
EUR 9.10 For Business Accounts Only

KSE-100 Trades below 10-SMA (AKD Technical Daily Aug,17 2023)

Market View — Technical
The index opened on a slightly positive note and faced a bearish session. The local bourse posted a low of 457pts and concluded with a loss
of 419pts to settle at 48,146pts. The volumes witnessed in the last trading session were comparatively lower than the previous trading session. A bearish candle stick occurred in the last trading session. During the past 10 trading sessions, there have been 5 white candles and 5
black candles. Bollinger Bands are 68.56% wider than normal. The large width of the bands suggest high volatility as compared to the normal
range of the Index. Momentum oscillator RSI (Relative Strength Index) has set a new 14-period low while the Index level has not. This is a
bearish divergence.
The chart formation depicts that the index may find initial support near 48,000. A break below mentioned support can result into further
weakness towards 47,700 and 47,400pts level. Alternatively, the index can face resistance near 48,500pts initially and then head towards
48,800 and 49,100 area. It is recommended to trade with a cautious approach and focus on profit taking. 

Provider
AKD Securities Limited
AKD Securities Limited

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.

Analysts
Kamal Ahmed

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