KSE-100_Faces a volatile session (AKD Technical Daily Aug,18 2023)
AKD Daily Technical
KSE-100_Faces a volatile session
Market View — Technical
The index opened on a negative note and faced a volatile session. The local bourse posted a low of 253pts, a high of 251pts and concluded with a gain of 179pts to settle at 48,326pts. The volumes witnessed in the last trading session were slightly lower than the previous trading session. The Index closed below the upper band by 32.1%. Bollinger Bands are 53.59% wider than normal. The large width of the bands suggest high volatility as compared to the normal range of the Index. Therefore, the probability of volatility decreasing and Index entering (or remaining in) a trading range has increased for the near-term. Daily parabolic SAR (Stop & Reverse) is currently appearing above the current level of the Index.
The chart formation depicts that the index may find initial support near 48,000. A break below mentioned support can result into further weakness towards 47,700 and 47,400pts level. Alternatively, the index can face resistance near 48,500pts initially and then head towards 48,800 and 49,100 area. It is recommended to trade with a cautious approach and focus on profit taking.
AKD Research
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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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