KSE-100_Caution should be exercised,(AKD Technical Daily Dec 14 2023)
Market View — Technical
The index opened on a positive note and remained volatile throughout the last trading session. The local bourse posted a high of 667pts during intraday trading, a low of 1,999pts and concluded with a loss of 1,147pts to settle at 65,280pts. The volumes witnessed in the last trading
session were higher than the previous trading session. Volatility is extremely high when compared to the average volatility over the last 10
trading sessions. There is a good possibility that volatility could decrease and Index level could stabilize in the near term. Momentum oscillator is currently indicating that the Index is currently in an overbought condition. RSI tested 14-period low while the Index level has not.
The chart formation depicts that the index may find initial support near 65,000. A break below mentioned support can result into further
weakness towards 64,600 and 64,200pts level. Alternatively, the index can face resistance near 65,500pts initially and then head towards
66,100 and 66,700 area. It is recommended to trade with a cautious approach and accumulate positions on weakness.
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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