KSE-100_Surges to new peaks amid heavy volumes,(AKD Technical Daily Dec 11 2023)
Market View — Technical
The index opened on a positive note and remained bullish throughout the last trading session. The local bourse posted a fresh high at
66,274pts during intraday trading and concluded with a gain of 1,506pts to settle at 66,224pts. The volumes witnessed in the last trading
session were higher than the previous trading session. A rising window candle occurred in the las trading session. This usually implies a continuation of a bullish trend. There have been 9 rising windows in the last 50 candles which makes the current rising window even more bullish. During the past 10 trading session, there have been 8 white candles and 2 black candles for a net of 6 white candles.
The chart formation depicts that the index may find initial support near 65,900. A break below mentioned support can result into further
weakness towards 65,500 and 65,000pts level. Alternatively, the index can face resistance near 66,300pts initially and then head towards
67,000 and 67,500 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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