KSE-100_Index declines by 771pts (AKD Technical Daily Aug,22 2023)
AKD Daily Technical
KSE-100_Index declines by 771pts
Market View — Technical
The index opened on a negative note and faced a bearish session. The local bourse posted a low of 786pts and concluded with a loss of 771pts to settle at 47,448pts. The volumes witnessed in the last trading session were comparatively lower than the previous trading session. The Index closed above the lower band by 40.8%. Bollinger Bands are 15.57% wider than normal. Volatility is extremely high when compared to the average volatility over the last 10 periods. It seems that volatility could decrease and Index could stabilize in the near term.
The chart formation depicts that the index may find initial support near 47,200. A break below mentioned support can result into further weakness towards 46,800 and 46,500pts level. Alternatively, the index can face resistance near 47,800pts initially and then head towards 48,200 and 48,500 area. It is recommended to accumulate positions on weakness with risk defined below support zone.
AKD Research
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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