KSE-100_High volatility - stay cautious ,(AKD Technical Daily 19-02-24)
KSE-100_High volatility - stay cautious
Market View — Technical
The index opened on a negative note and remained volatile throughout the last trading sessions. The local bourse posted a low of 1,281pts and concluded with a loss 1,147pts to settle at 59,873pts. The volumes witnessed in the last trading session were slightly higher than the previous trading session. The Index is currently below minor moving averages and volatility is extremely high when compared to the average volatility over the last 10 periods. Volume indicators reflect volume flowing into and out of the Index at a relatively equal pace. Trend forecasting oscillators are currently bearish on the Index and have had this outlook for couple of trading sessions.
The chart formation depicts that the index may find initial support near 59,600. A break below mentioned support can result into further weakness towards 59,300 and 58,800pts level. Alternatively, the index can face resistance near 60,600pts initially and then head towards 61,000 and 61,400 area. It is recommended to trade with a cautious approach.
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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