KSE-100_Sharp recovery witnessed, (AKD Technical Daily May 27, 2022)
AKD Daily Technicals
KSE-100: Sharp recovery witnessed
- The index opened on a negative note and remained volatile throughout the last trading session. The local bourse posted an intraday low of 112pts, a high of 595pts and concluded with a gain of 529pts to settle at 42,542pts level. A big white candle occurred. This is generally considered bullish, as Index closed significantly higher than it opened. The local bourse is currently 5.8% below its 200-period moving average. Volatility is high as compared to the average volatility over the last ten trading sessions.
- The chart formation depicts that the index may find initial support near 42,300. A break below mentioned support can result into further weakness towards 41,900 and 41,500pts level. Alternatively, the index can face resistance near 42,750pts initially and then head towards 43,100 and 43,500 area. It is recommended to accumulate positions on weakness with risk defined below recent low.
AKD Research
Unity Foods Limited is a Pakistan-based company. The Company is principally engaged in oil-processing business. The Company has its solvent extraction plant located in Kotri, Sindh and edible oil refinery located at a site area, Karachi.
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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