Karachi, The KSE-100 index at the Karachi Stock Exchange demonstrated a bullish trend in the latest trading session, marking a significant gain of 1,016 points to close at 65,064 points. The index, which opened on a positive note, has shown resilience by maintaining its bullish momentum throughout the session, with trading volumes slightly higher than in the previous session, As per AKD Research.
According to AKD Securities Limited, the Relative Strength Indicator (RSI) currently stands at 57.03, indicating a sharp recovery and suggesting that the index has successfully managed to close above the 65,000 mark. Despite the Moving Average Convergence Divergence (MACD) heading towards the signal line, indicating a potential shift, the overall market view remains positive. AKD Research anticipates that the KSE-100 may find initial support near 64,800 points. A breach below this level could trigger further declines towards 64,500 and 64,300 points. Conversely, resistance is expected near 65,300 points, with potential to extend towards 65,500 and 66,100 points.
The report emphasizes a cautious trading approach, advising investors to accumulate positions near the support zone with a clearly defined risk threshold below it. This strategic recommendation is based on a comprehensive glossary of terms including definitions for support, resistance, RSI, Bollinger Bands, MACD, and others, aiming to equip investors with the necessary tools for informed decision-making in the stock market.
The disclaimer section of the report highlights that the information provided is for personal use and does not constitute an offer or solicitation to buy or sell securities. It stresses the importance of seeking personalized financial advice, as the suitability of specific investments and strategies can vary widely based on individual investor circumstances and objectives.
AKD Research's analysis serves as a crucial resource for investors navigating the complexities of the stock market, offering insights into potential trends and movements within the KSE-100 index. The emphasis on individual investor responsibility and the need for tailored investment strategies underscore the nuanced nature of stock market investments.