KSE-100_Remains under pressure, (AKD Technical Daily May 09, 2022)
AKD Daily Technicals
KSE-100: Remains under pressure
- The index opened with a negative note and underwent a bearish session. The Index posted an intraday low of 465pts and concluded with a loss of 409pts to settle at 44,841pts level. The index remained under pressure since the opening bell. The index is currently sustaining above 50-SMA on daily chart. A closing below 50-SMA which is currently lying at 44,645 could add further pressure in near term. The volumes reflected in the last trading session were comparatively lower than the previous trading session.
- The chart formation depicts that the index may find initial support near 44,650. A break below mentioned support can result into further weakness towards 44,300 and 44,000pts level. Alternatively, the index can face resistance near 45,250pts initially and then head towards 45,500 and 45,800 area. It is recommended to trade with a cautious approach and use stop loss below 44,500.
AKD Research
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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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