KSE-100_Posts fresh highs amidst heavy volumes ,(AKD Technical Daily Dec 08 2023)
Market View — Technical
The index opened on a positive note and faced a volatile trading session. The local bourse posted a fresh high of 64,958pts during intraday trading, a low of 65pts and concluded with a gain of 800pts to settle at 64,718pts. The volumes witnessed in the last trading session were higher than the previous trading session. The Index is currently 41.3% above its 200-period moving average and is in an upward trend. Volatility is high relatively to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume into the Index. Trend forecasting oscillators are currently bullish on the local bourse.
The chart formation depicts that the index may find initial support near 64,500. A break below mentioned support can result into further weakness towards 64,100 and 63,600pts level. Alternatively, the index can face resistance near 65,000pts initially and then head towards 65,600 and 65,900 area. It is recommended to accumulate positions and use 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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