KSE-100 Closes with a positive bias, (AKD Technical Daily Jun 07, 2022)
AKD Daily Technicals
KSE-100 Closes with a positive bias
- The index opened on a negative note and faced a volatile session. The local bourse posted an intraday low of 284pts, a high of 361pts and concluded with a gain of 262pts to settle at 41,577pts level. The volumes witnessed in the last trading session were lighter than the previous trading session. The MACD is bearish since it is trading below its signal line. It crossed below its signal line one trading session ago.
- The chart formation depicts that the index may find initial support near 41,300. A break below mentioned support can result into further weakness towards 41,100 and 40,800pts level. Alternatively, the index can face resistance near 41,800pts initially and then head towards 42,300 and 42,700 area. It is recommended to trade with a cautious approach and use stop loss during intraday trading.
AKD Research
Maple Leaf Cement Factory is engaged in the production and sale of white cement, grey cement and clinker. Co. is a subsidiary of Kohinoor Textile Mills Limited.
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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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