KSE-100_Hyper move witnessed, (AKD Technical Daily Jul 14 2022)
KSE-100: Hyper move witnessed
Market View — Technical
The index opened on a negative note and faced a volatile session. The local bourse posted an intraday high of 628pts, a low of 120pts to
settle at 41,863 pts level with a gain of 519pts. The volumes witnessed in the last trading session were comparatively higher than the previous
trading session. A hat-trick of winning sticks witnessed on daily chart. Although these sticks were not big enough to create three white
soldiers, the steady upward pattern seems bullish. The MACD is bullish since it is trading above its signal line. The MACD crossed above its
signal line one trading session ago. Since the MACD crossed its moving average, the local bourse has increased 1.25%.
The chart formation depicts that the index may find initial support near 41,500. A break below mentioned support can result into further
weakness towards 41,200 and 40,900pts level. Alternatively, the index can face resistance near 42,100pts initially and then head towards
42,500 and 42,800 area. It is recommended to accumulate positions on weakness with risk defined below support zone.
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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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