KSE-100_Heading towards 50-SMA,(AKD Technical Daily Mar 21 2023)
KSE-100: Heading towards 50-SMA
Market View — Technical
The index opened on a slightly positive note and faced a bearish session amidst good volumes. The local bourse posted an intraday high of
68pts, a low of 420pts and concluded with a loss of 412pts to settle at 40,918pts. The volumes clocked in the last trading session were comparatively
lower than the previous trading session. The Index seems to head towards 50-SMA (Simple Moving Average) which currently resides
at a level of 40,756pts. Among the strength indicator, RSI (Relative Strength Index) is showing some weakness and falling below the
neutral mark. During the last 10 trading sessions, there have been 4 white candles and 6 black candles for a net of 2 black candles. The Index
has been posting black candles for the last three consecutive trading sessions.
The chart formation depicts that the index may find initial support near 40,800. A break below mentioned support can result into further
weakness towards 40,500 and 40,300pts level. Alternatively, the index can face resistance near 41,200pts initially and then head towards
41,500 and 41,800 area. It is recommended to trade with a cautious approach.
KSE-100: Heading towards 50-SMA
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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