KSE-100_Remains range bound, (AKD Technical Daily Sep 14 2022)
AKD Daily Technicals
KSE-100: Remains range bound
Market View — Technical
The index opened on a positive note and a range bound activity witnessed. The local bourse posted an intraday high of 230pts, a low of 23pts and concluded with a gain of ↑139pts to settle at 42,001pts. The volumes clocked in the last trading session were slightly lower than the previous trading session. The Index is currently 3.6% below 200-period moving average on daily chart. Volatility is extremely low when compared to the average volatility over the last ten trading sessions. There seems a possibility that an increase in volatility along with sharp fluctuations could be witnessed. Volume indicators reflect volume flowing into and out of KSE100 at a relatively equal pace (neutral).
The chart formation depicts that the index may find initial support near 41,800. A break below mentioned support can result into further weakness towards 41,500 and 41,200pts level. Alternatively, the index can face resistance near 42,200pts initially and then head towards 42,600 and 42,900 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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