KSE-100_A selling spree was witnessed, (AKD Technical Daily Jul 22 2022)
AKD Daily Technicals
KSE-100: A selling spree was witnessed
- The index opened on a slightly positive note and faced a volatile session. The local bourse posted an intraday high of 117pts, a low of 659pts and concluded with a loss of 628pts to settle at 39,832pts. The volumes witnessed in the last trading session were slightly higher than the previous trading session. The local bourse hammered below 40,000 mark for the first time after nov’20. The index is approaching towards a 38.2% of the fib retracement level which could act as an important support zone. The area coincides with cluster of support. Technical indicators are exhausting to oversold condition where a potential bounce could be expected.
- The chart formation depicts that the index may find initial support near 39,700. A break below mentioned support can result into further weakness towards 39,300 and 38,900pts level. Alternatively, the index can face resistance near 40,200pts initially and then head towards 40,500 and 40,900 area. It is recommended to accumulate positions on weakness with risk defined below 39,000 area.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.