KSE-100_Faces a bullish session ,(AKD Technical Daily Dec 27 2022)
The index opened on a positive note and faced a bullish session amidst good volumes. The local bourse posted an intraday high of 698pts and
concluded with a gain of 486pts to settle at 40,155pts. The volumes clocked in the last trading session were comparatively higher than the
previous trading session. The index is currently trading below minor moving averages on daily chart. Among the Strength indicators, RSI is not
currently in a topping (above 70) or bottoming (below 30) range. However, the RSI just crossed above 30 from a bottoming formation. This
indicates a bullish sign.
The chart formation depicts that the index may find initial support near 39,800. A break below mentioned support can result into further
weakness towards 39,600 and 39,400pts level. Alternatively, the index can face resistance near 40,400pts initially and then head towards
40,700 and 40,900 area. It is recommended to accumulate positions on weakness with risk defined below support zone.
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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