KSE-100_Volatile session expected,(AKD Technical Daily Dec 28 2022)
AKD Daily Technical
KSE-100: Volatile session expected,
Market View — Technical
The index opened on a slightly positive note and faced a volatile session amidst good volumes. The local bourse posted an intraday high of 161pts, a low of 450pts and concluded with a loss of 352pts to settle at 39,803pts. The volumes clocked in the last trading session were comparatively higher than the previous trading session. The MACD is bearish since it is trading below its signal line. The MACD crossed below its signal line 21 trading sessions ago. Since the MACD crossed its moving average, the local bourse has decreased 5.39%, and has ranged from a high of 42,658 to a low of 39,276.
The chart formation depicts that the index may find initial support near 39,600. A break below mentioned support can result into further weakness towards 39,400 and 39,200pts level. Alternatively, the index can face resistance near 40,400pts initially and then head towards 40,700 and 40,900 area. It is recommended to accumulate positions on weakness with risk defined below support zone.
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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