KSE-100_sheds more than 1,100 points , (AKD Technical Daily Dec 21 2022)
KSE-100: sheds more than 1,100 points
Market View — Technical
The index opened on a slightly negative note and faced a bearish session amidst improved volumes. The local bourse posted an intraday low
of 1,438pts and concluded with a loss of 1,138pts to settle at 39,832pts. The volumes clocked in the last trading session were comparatively
higher than the previous trading session. The Index closed below the lower band by 19.9%. This combined with the steep downtrend suggests
that the downward trend could continue. However, a short-term pull-back inside the bands is likely. The MACD is bearish since it is trading
below its signal line. Since the MACD crossed its moving average, the index has decreased 5.32%, and has ranged from a high of 42,658 to a
low of 39,533.
The chart formation depicts that the index may find initial support near 39,550. A break below mentioned support can result into further
weakness towards 39,200 and 38,800pts level. Alternatively, the index can face resistance near 40,200pts initially and then head towards
40,400 and 40,600 area. It is recommended to trade with 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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