KSE-100_Approaching towards 200-SMA,(AKD Technical Daily May 19 2023)
AKD Daily Technical
KSE-100_Approaching towards 200-SMA
Market View — Technical
The index opened on a positive note and faced a bearish session. The local bourse posted a high of 131pts, a low of 422pts and concluded with a loss of 392pts to settle at 41,442pts. The volumes clocked in the last trading session were comparatively lower than the previous trading session. Among the Strength Indicators, RSI (Relative Strength Index) is currently at 52.92 which is near to the neutral mark. Daily Parabolic SAR (Stop & Reverse) is currently appearing above the current level of the Index. The Index is approaching towards 200-SMA (Simple Moving Average) on daily chart which is below the current level of the Index.
The chart formation depicts that the index may find initial support near 41,100. A break below mentioned support can result into further weakness towards 40,800 and 40,500pts level. Alternatively, the index can face resistance near 41,800pts initially and then head towards 42,000 and 42,200 area. It is recommended to trade with a cautious approach and focus on profit taking.
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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