KSE-100_Low volumes witnessed,(AKD Technical Daily Apr 11 2023)
AKD Daily Technical
KSE-100_Low volumes witnessed
Market View — Technical
The index opened on a slightly positive note and remained volatile throughout the last trading session amidst low volumes. The local bourse posted an intraday high of 134pts, a low of 234pts and concluded with a loss of 214pts to settle at 39,836pts. The volumes clocked in the last trading session were lower than the previous trading session. During the past 10 trading sessions, there have been 3 white candles and 7 black candles for a net of 4 black candles. The Index is currently 3.6% below its 200-period moving average. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. RSI (14) is currently at 40.28.
The chart formation depicts that the index may find initial support near 39,800. A break below mentioned support can result into further weakness towards 39,500 and 39,200pts level. Alternatively, the index can face resistance near 40,500pts initially and then head towards 40,800 and 41,200 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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