|  | 

Brokerage

AKD Securities Limited – AKD Technical Daily (October 04, 2022)

Karachi, October 04, 2022 (PPI-OT): KSE-100: Faces a volatile session

The index opened with a negative bias and remained volatile throughout the last trading session. The local bourse posted an intraday low of 38pts, a high of 275pts and concluded with a marginal gain of 83pts to settle at 41,212pts. The volumes clocked in the last trading session were slightly lower than the previous trading session. The index is currently sustaining below minor moving averages on daily chart and is currently 4.9% below 200-SMA (Simple Moving Average). Volume indicators reflect that volume flowing into and out of the Index at a relatively equal pace which is neutral.

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 40,200pts level. Alternatively, the index can face resistance near 41,400pts initially and then head towards 41,700 and 41,900 area. It is recommended to accumulate positions on weakness with risk defined below support zone.

akd-securities-limited-akd-technical-daily-october-04-2022

ABOUT THE AUTHOR

Categories

ARCHIVES