KSE-100_Closes above 72K (AKD Technical Daily 25-04-24)
AKD Daily Technical KSE-100: Closes above 72K Market View — Technical The index opened on a positive note and faced a bullish trading session. The local bourse posted a high of 1,055pts and concluded with a gain of 693pts to settle at 72,052pts. The volumes witnessed in the last trading session were lower than the previous trading session. A white body candle occurred. During the past 10 trading sessions, there have been 6 white candles and 4 black candles for a net of 2 white candles. The Index closed below the upper band by 11.7%. Bollinger Bands are 47.54% wider than normal. The large width of the bands suggest high volatility as compared to the normal range of the Index. The chart formation depicts that the index may find initial support near 71,700. A break below mentioned support can result into further weakness towards 71,400 and 71,000pts level. Alternatively, the index can face resistance near 72,500pts initially and then head towards 72,800 and 73,200 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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