AKD Securities Limited – AKD Daily Technicals (January 18, 2022)

Karachi, January 18, 2022 (PPI-OT): KSE-100 Index: Low volumes witnessed

The index opened on a negative note and underwent a bearish session. The local bourse posted a low of 376pts and concluded with a loss of 151pts to settle at 45,612pts level while trading volumes decreased by 21% DoD. Volatility is extremely low when compared to the average volatility over the last ten trading sessions.

The chart formation depicts that the index may find initial support near 45,400. A break below mentioned support can result into further weakness towards 45,200 and 44,950pts level. Alternatively, the index can face resistance near 45,750pts initially and then head towards 46,000 and 46,300 area. It is recommended to accumulate positions on weakness with risk defined below support zone.

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