KSE-100_A volatile session amidst low volumes, (AKD Technical Daily Jun 15, 2022)
AKD Daily Technicals
KSE-100: A volatile session amidst low volumes
- The index opened on a slightly negative note and faced a volatile session with a swing move of 458pts. The local bourse posted an intraday high of 236pts, a low of 222pts and concluded with a gain of 175pts to settle at 41,055pts level. The volumes witnessed in the last trading session were lower than the previous trading session. The Index is currently trading with a RSI reading at 34.5. 8.3%. The Index is currently sustaining below its 200-period moving average on daily chart.
- The chart formation depicts that the index may find initial support near 40,900. A break below mentioned support can result into further weakness towards 40,700 and 40,400pts level. Alternatively, the index can face resistance near 41,500pts initially and then head towards 41,800 and 42,100 area. It is recommended to trade with a cautious approach and use stop loss during intraday trading.
AKD Research
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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.
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