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AKD Securities Limited – AKD Daily Technicals (September 27, 2022)

Karachi, September 27, 2022 (PPI-OT): KSE-100 Short term recovery expected

The index opened on a positive note and remained bullish throughout the last trading session. The local bourse posted an intraday high of 576pts and concluded with a gain of 531pts to settle at 41,152pts. The volumes clocked in the last trading session were comparatively higher than the previous trading session. A big bullish candle occurred, it seems to be a bullish signal, as the index closed significantly higher than opening. During the past 10 trading sessions, there have been 4 white candles and 6 black candles for a net of 2 black candles.

The chart formation depicts that the index may find initial support near 40,800. A break below mentioned support can result into further weakness towards 40,500 and 40,300pts level. Alternatively, the index can face resistance near 41,350pts initially and then head towards 41,550 and 41,800 area. It is recommended to accumulate positions on weakness with risk defined below support zone.

akd-securities-limited-akd-daily-technicals-september-27-2022

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