KSE-100_High volatility is expected, (AKD Technical Daily May 16, 2022)
AKD Daily Technicals
KSE-100:High volatility is expected
- The index opened with a slightly positive note and underwent a bullish session. The local bourse posted an intraday high of 607pts, a low of 45pts and concluded with a gain of 588pts to settle at 43,486pts level. A sharp recovery witnessed from an oversold region in the last trading session. Bollinger Bands are 89.04% 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 the index entering (or remaining in) a trading range has increased for the near-term.
- The chart formation depicts that the index may find initial support near 43,150. A break below mentioned support can result into further weakness towards 42,700 and 42,300pts level. Alternatively, the index can face resistance near 43,800pts initially and then head towards 44,100 and 44,400 area. It is recommended to trade with a cautious approach and use stop loss during intra day trading.
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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