KSE-100_Bearish sentiment prevailed, (AKD Technical Daily Jul 19 2022)
Market View — Technical
The index gapped down and remained bearish throughout the last trading session. The local bourse posted an intraday low of 800pts and
concluded with a loss of 708pts to settle at 41,367pts. The volumes witnessed in the last trading session were comparatively lower than the
previous trading session. The local bourse is currently trading below its minor moving averages on daily chart. A falling window candle stick
occurred. This usually implies a continuation of a bearish trend.
The chart formation depicts that the index may find initial support near 41,200. A break below mentioned support can result into further
weakness towards 40,900 and 40,600pts level. Alternatively, the index can face resistance near 41,700pts initially and then head towards
42,000 and 42,300 area. It is recommended to trade with a cautious approach and use stop loss during intraday trading.
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.