KSE-100_Profit taking emerges,(AKD Technical Daily May 30, 2022)
AKD Daily Technicals
KSE-100: Profit taking emerges
- The index opened with a positive bias and remained bullish throughout the last trading session. The local bourse posted an intraday high of 1,013pts and concluded with a gain of 320pts to settle at 42,861pts level. The volumes stood at 237Mln which is comparatively higher than the previous trading session. The index gapped up (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Momentum oscillator has set a new 14-period high while the Index has not. This is a bullish divergence.
- The chart formation depicts that the index may find initial support near 42,600. A break below mentioned support can result into further weakness towards 42,300 and 41,900pts level. Alternatively, the index can face resistance near 43,100pts initially and then head towards 43,500 and 43,750 area. It is recommended to accumulate positions on weakness with risk defined below recent low
NetSol Technologies Limited. NetSol Technologies Limited is engaged in the development and sale of computer software and provision of related services in Pakistan, as well as abroad. The Company is also engaged in software maintenance and licensing. It offers services, including technology outsourcing, system integration, application development and maintenance, business intelligence, information security, enterprise solutions, and information technology consulting and business process re-engineering (BPR). It offers NetSol Financial Suite (NFS) product, a leasing and finance solution in the Chinese market. Its NFS Enterprise Mobility product mobilizes finance and leasing business operations, allowing customers to monitor and control their lease accounts remotely. Its NFS Ascent platform provides finance and lease companies' end-to-end automation of various operational processes involved with a lease contract. It serves industries, including lease and finance, banking, information technology and insurance.
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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